Empirical Financial Services LLC d.b.a. Empirical Wealth Management Invests $861,000 in SkyWest, Inc. $SKYW

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,554 shares of the transportation company’s stock, valued at approximately $861,000.

Other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of SkyWest by 24.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 144,978 shares of the transportation company’s stock worth $14,628,000 after acquiring an additional 28,669 shares during the period. Envestnet Asset Management Inc. raised its holdings in SkyWest by 16.1% during the second quarter. Envestnet Asset Management Inc. now owns 38,117 shares of the transportation company’s stock worth $3,925,000 after purchasing an additional 5,277 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in SkyWest by 189.7% during the third quarter. Teacher Retirement System of Texas now owns 19,044 shares of the transportation company’s stock worth $1,916,000 after purchasing an additional 12,470 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in SkyWest by 1,124.8% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 28,759 shares of the transportation company’s stock valued at $2,961,000 after acquiring an additional 26,411 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in SkyWest by 217.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 36,837 shares of the transportation company’s stock valued at $3,707,000 after purchasing an additional 25,246 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Insider Buying and Selling at SkyWest

In related news, insider Wade J. Steel sold 7,371 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $107.56, for a total transaction of $792,824.76. Following the completion of the transaction, the insider owned 98,067 shares of the company’s stock, valued at approximately $10,548,086.52. The trade was a 6.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s 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 completion of the sale, the director owned 25,362 shares in the company, valued at approximately $2,702,067.48. The trade was a 15.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.20% of the company’s stock.

SkyWest Price Performance

NASDAQ SKYW opened at $103.23 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $4.17 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 0.69 and a beta of 1.65. SkyWest, Inc. has a 12-month low of $74.70 and a 12-month high of $123.94. The company has a 50 day moving average price of $101.77 and a two-hundred day moving average price of $103.81.

SkyWest (NASDAQ:SKYW) last announced 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 business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $993.12 million. During the same quarter last year, the company earned $2.34 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SKYW shares. TD Cowen decreased 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. Wall Street Zen lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a report on Monday, January 26th. Finally, Citigroup assumed coverage on shares of SkyWest in a research note on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, SkyWest has an average rating of “Moderate Buy” and an average price target of $123.83.

About SkyWest

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.