Assetmark Inc. Buys 5,634 Shares of SkyWest, Inc. $SKYW

Assetmark Inc. increased its position in SkyWest, Inc. (NASDAQ:SKYW) by 7.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,863 shares of the transportation company’s stock after buying an additional 5,634 shares during the period. Assetmark Inc. owned 0.21% of SkyWest worth $7,517,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SKYW. California State Teachers Retirement System increased its stake in SkyWest by 0.8% during the second quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company’s stock worth $1,150,000 after acquiring an additional 87 shares during the last quarter. Maryland State Retirement & Pension System raised its position in SkyWest by 1.7% during the fourth quarter. Maryland State Retirement & Pension System now owns 5,901 shares of the transportation company’s stock valued at $593,000 after purchasing an additional 96 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of SkyWest by 1.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,192 shares of the transportation company’s stock valued at $923,000 after purchasing an additional 100 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of SkyWest by 4.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company’s stock worth $257,000 after purchasing an additional 100 shares during the period. Finally, CWM LLC increased its position in shares of SkyWest by 1.7% during the 4th quarter. CWM LLC now owns 6,601 shares of the transportation company’s stock valued at $663,000 after purchasing an additional 108 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Trading Down 4.2%

SkyWest stock opened at $95.14 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.51 and a current ratio of 0.62. The stock has a market cap of $3.77 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45. The stock has a 50-day moving average of $91.11 and a two-hundred day moving average of $94.45. SkyWest, Inc. has a one year low of $77.89 and a one year high of $123.94.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, April 23rd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.35. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $993.06 million. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.42 EPS. On average, research analysts anticipate that SkyWest, Inc. will post 10.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on SKYW. Weiss Ratings upgraded SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. Citigroup upped their price objective on SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. The Goldman Sachs Group downgraded SkyWest from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $126.00 to $115.00 in a research report on Thursday, July 2nd. Finally, TD Cowen upped their price target on shares of SkyWest from $98.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, SkyWest presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

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.