PineBridge Investments L.P. Has $172,000 Stake in SkyWest Inc. (SKYW)
PineBridge Investments L.P. boosted its stake in SkyWest Inc. (NASDAQ:SKYW) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,517 shares of the company’s stock after buying an additional 271 shares during the period. PineBridge Investments L.P.’s holdings in SkyWest were worth $172,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in SKYW. Louisiana State Employees Retirement System raised its stake in SkyWest by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the company’s stock valued at $603,000 after buying an additional 200 shares in the last quarter. Anchor Capital Advisors LLC raised its stake in SkyWest by 0.6% in the second quarter. Anchor Capital Advisors LLC now owns 42,000 shares of the company’s stock valued at $1,111,000 after buying an additional 257 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in SkyWest by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 62,800 shares of the company’s stock valued at $1,662,000 after buying an additional 700 shares in the last quarter. Royal Bank of Canada raised its stake in SkyWest by 30.2% in the first quarter. Royal Bank of Canada now owns 6,118 shares of the company’s stock valued at $122,000 after buying an additional 1,418 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in SkyWest by 3.5% in the second quarter. New York State Teachers Retirement System now owns 140,271 shares of the company’s stock valued at $3,712,000 after buying an additional 4,800 shares in the last quarter. 86.16% of the stock is owned by institutional investors.
Shares of SkyWest Inc. (NASDAQ:SKYW) opened at 26.41 on Friday. The firm’s 50-day moving average is $27.57 and its 200-day moving average is $24.80. SkyWest Inc. has a one year low of $13.23 and a one year high of $29.87. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 9.52 and a beta of 1.69.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. SkyWest had a return on equity of 8.47% and a net margin of 4.63%. The business had revenue of $801.34 million for the quarter, compared to the consensus estimate of $764.04 million. During the same quarter in the prior year, the business posted $0.61 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts forecast that SkyWest Inc. will post $2.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 30th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.76%. SkyWest’s payout ratio is currently 7.19%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of SkyWest from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, August 2nd. Deutsche Bank AG increased their target price on shares of SkyWest from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, July 29th. Five investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $28.40.
In related news, COO Michael B. Thompson sold 7,899 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $28.50, for a total transaction of $225,121.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Wade J. Steel sold 9,292 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $28.56, for a total value of $265,379.52. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.
SkyWest Company Profile
Skywest, Inc is a holding company for approximately two scheduled passenger airline operations and an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and ExpressJet. SkyWest Airlines provides regional jet and turboprop service to airports located in the Midwestern and Western United States.
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