American Century Companies Inc. Increases Holdings in SkyWest, Inc. $SKYW

American Century Companies Inc. increased its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,612,098 shares of the transportation company’s stock after purchasing an additional 46,744 shares during the quarter. American Century Companies Inc. owned 4.02% of SkyWest worth $162,209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SKYW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SkyWest by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock worth $2,061,000 after acquiring an additional 1,034 shares in the last quarter. United Services Automobile Association purchased a new stake in SkyWest in the first quarter worth about $227,000. Envestnet Asset Management Inc. lifted its stake in shares of SkyWest by 16.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 38,117 shares of the transportation company’s stock valued at $3,925,000 after buying an additional 5,277 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in SkyWest in the 2nd quarter worth approximately $206,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of SkyWest during the second quarter valued at about $1,194,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Down 4.3%

SkyWest stock opened at $104.08 on Monday. The company has a market capitalization of $4.21 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 0.70 and a beta of 1.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 0.65. SkyWest, Inc. has a fifty-two week low of $74.70 and a fifty-two week high of $123.94. The firm has a 50 day moving average price of $102.01 and a 200 day moving average price of $103.54.

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

Analyst Upgrades and Downgrades

SKYW has been the subject of several analyst reports. Cantor Fitzgerald set a $122.00 target price on shares of SkyWest in a report on Monday, January 26th. Zacks Research downgraded SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Citigroup started coverage on SkyWest in a report on Thursday, December 4th. They set a “neutral” rating and a $112.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. Finally, TD Cowen reduced their price target on SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a research report on Monday, January 26th. One 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.83.

Insider Buying and Selling

In other SkyWest news, insider Wade J. Steel sold 20,629 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the transaction, the insider owned 77,438 shares of the company’s stock, valued at approximately $8,249,470.14. This trade represents a 21.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction that occurred 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 approximately $2,702,067.48. This trade represents a 15.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 32,725 shares of company stock worth $3,493,834 over the last 90 days. Insiders own 1.20% 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.