SkyWest, Inc. $SKYW Shares Acquired by Voya Investment Management LLC

Voya Investment Management LLC grew its position in SkyWest, Inc. (NASDAQ:SKYW) by 23.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,643 shares of the transportation company’s stock after purchasing an additional 5,143 shares during the period. Voya Investment Management LLC owned approximately 0.07% of SkyWest worth $2,328,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of SkyWest by 1,075.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 60,181 shares of the transportation company’s stock valued at $5,302,000 after purchasing an additional 55,062 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of SkyWest by 5.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,322 shares of the transportation company’s stock valued at $290,000 after purchasing an additional 186 shares during the period. GAMMA Investing LLC increased its holdings in shares of SkyWest by 11.5% in the first quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company’s stock valued at $152,000 after purchasing an additional 180 shares during the period. SG Americas Securities LLC acquired a new position in shares of SkyWest in the first quarter valued at about $1,007,000. Finally, Intech Investment Management LLC increased its holdings in shares of SkyWest by 47.2% in the first quarter. Intech Investment Management LLC now owns 47,497 shares of the transportation company’s stock valued at $4,150,000 after purchasing an additional 15,239 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SkyWest

In related news, VP Greg Wooley sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total value of $233,660.00. Following the completion of the sale, the vice president owned 66,737 shares of the company’s stock, valued at approximately $7,796,883.71. This trade represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert J. Simmons sold 17,186 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $117.46, for a total value of $2,018,667.56. Following the completion of the sale, the chief financial officer directly owned 114,017 shares of the company’s stock, valued at approximately $13,392,436.82. This represents a 13.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,186 shares of company stock valued at $10,440,398. 1.20% of the stock is currently owned by company insiders.

SkyWest Stock Performance

NASDAQ SKYW opened at $104.24 on Monday. The company has a market cap of $4.21 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 1.03 and a beta of 1.92. The stock’s 50 day simple moving average is $113.85 and its 200-day simple moving average is $101.48. SkyWest, Inc. has a 1-year low of $74.70 and a 1-year high of $135.57. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 24th. The transportation company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.57. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $979.95 million. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.82 earnings per share. As a group, equities research analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SKYW has been the topic of a number of recent research reports. Evercore ISI upped their target price on SkyWest from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Raymond James Financial upped their target price on SkyWest from $128.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $126.75.

SkyWest Company Profile

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.