SG Americas Securities LLC Purchases Shares of 9,933 SkyWest, Inc. $SKYW

SG Americas Securities LLC acquired a new stake in SkyWest, Inc. (NASDAQ:SKYW) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,933 shares of the transportation company’s stock, valued at approximately $999,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SKYW. Salomon & Ludwin LLC acquired a new position in SkyWest during the third quarter valued at approximately $38,000. Elevation Point Wealth Partners LLC bought a new stake in shares of SkyWest during the 2nd quarter worth approximately $40,000. Fifth Third Bancorp boosted its holdings in shares of SkyWest by 38.4% in the 2nd quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock valued at $57,000 after buying an additional 153 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of SkyWest by 478.6% in the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock valued at $58,000 after buying an additional 469 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after buying an additional 339 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Insiders Place Their Bets

In other SkyWest news, Director Meredith Siegfried Madden sold 4,725 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $106.54, for a total transaction of $503,401.50. Following the transaction, the director owned 25,362 shares in the company, valued at $2,702,067.48. This trade represents a 15.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

SkyWest Trading Down 0.4%

Shares of SKYW stock opened at $99.71 on Monday. The firm has a 50 day moving average price of $100.50 and a two-hundred day moving average price of $105.47. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $4.00 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.69 and a beta of 1.66. SkyWest, Inc. has a 12-month low of $74.70 and a 12-month high of $135.57.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.56 by $0.25. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. SkyWest had a return on equity of 17.14% and a net margin of 10.92%.The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 earnings per share. As a group, analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. TD Cowen increased their price target on shares of SkyWest from $124.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Zacks Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Raymond James Financial raised SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Citigroup began coverage on SkyWest in a research note on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price objective on the stock. Finally, Cantor Fitzgerald set a $132.00 target price on SkyWest in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, SkyWest has a consensus rating of “Moderate Buy” and an average price target of $127.17.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.