AlphaQuest LLC Has $438,000 Stake in SkyWest, Inc. $SKYW

AlphaQuest LLC trimmed its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 19.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,254 shares of the transportation company’s stock after selling 1,006 shares during the period. AlphaQuest LLC’s holdings in SkyWest were worth $438,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of SkyWest in the first quarter worth about $37,474,000. Brandywine Global Investment Management LLC bought a new position in shares of SkyWest in the first quarter worth about $12,839,000. Panagora Asset Management Inc. lifted its holdings in shares of SkyWest by 243.9% in the first quarter. Panagora Asset Management Inc. now owns 176,573 shares of the transportation company’s stock worth $15,427,000 after acquiring an additional 125,235 shares during the last quarter. Bandera Partners LLC lifted its holdings in shares of SkyWest by 138.1% in the first quarter. Bandera Partners LLC now owns 209,000 shares of the transportation company’s stock worth $18,260,000 after acquiring an additional 121,240 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of SkyWest by 8.3% in the first quarter. American Century Companies Inc. now owns 1,505,919 shares of the transportation company’s stock worth $131,572,000 after acquiring an additional 115,619 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Stock Down 2.0%

Shares of NASDAQ SKYW opened at $96.61 on Thursday. The company has a 50 day simple moving average of $106.48 and a 200 day simple moving average of $104.09. The firm has a market cap of $3.90 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.97 and a beta of 1.86. 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.

Insider Activity at SkyWest

In other SkyWest news, CEO Russell A. Childs sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $116.06, for a total transaction of $3,017,560.00. Following the completion of the transaction, the chief executive officer owned 404,883 shares in the company, valued at approximately $46,990,720.98. This trade represents a 6.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Greg Wooley sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total transaction of $233,660.00. Following the transaction, the vice president owned 66,737 shares of the company’s stock, valued at approximately $7,796,883.71. The trade was a 2.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 38,000 shares of company stock worth $4,412,120 in the last quarter. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SKYW shares. Evercore ISI increased their target price on shares of SkyWest from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Raymond James Financial raised shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of SkyWest in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, SkyWest presently has an average rating of “Buy” and an average target price of $126.75.

SkyWest 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.