SkyWest, Inc. $SKYW Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in SkyWest, Inc. (NASDAQ:SKYW) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,324 shares of the transportation company’s stock after selling 5,378 shares during the quarter. New York State Common Retirement Fund owned 0.13% of SkyWest worth $5,164,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SKYW. Salomon & Ludwin LLC acquired a new stake in SkyWest in the 3rd quarter valued at about $38,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of SkyWest in the second quarter valued at about $40,000. Blue Trust Inc. grew its position in shares of SkyWest by 478.6% in the second quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 469 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of SkyWest by 666.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company’s stock worth $116,000 after purchasing an additional 999 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SKYW. Zacks Research lowered SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Cantor Fitzgerald set a $122.00 price objective on SkyWest in a research report on Monday, January 26th. TD Cowen decreased their price objective on SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Citigroup initiated coverage on SkyWest in a research report on Thursday, December 4th. They set a “neutral” rating and a $112.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.83.

SkyWest Stock Performance

SkyWest stock opened at $105.96 on Friday. The stock has a fifty day moving average price of $101.56 and a 200 day moving average price of $104.52. SkyWest, Inc. has a 52 week low of $74.70 and a 52 week high of $123.94. The firm has a market capitalization of $4.25 billion, a P/E ratio of 10.24, a PEG ratio of 0.68 and a beta of 1.65. The company has a current ratio of 0.65, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). SkyWest had a return on equity of 16.35% and a net margin of 10.56%.The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $993.12 million. During the same period in the previous year, the business posted $2.34 earnings per share. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Insider Transactions at SkyWest

In related news, Director Meredith Siegfried Madden sold 4,725 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $106.54, for a total transaction of $503,401.50. Following the completion of the transaction, the director owned 25,362 shares of the company’s stock, valued at approximately $2,702,067.48. This represents a 15.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

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.