ClariVest Asset Management LLC Sells 1,126 Shares of SkyWest Inc. (SKYW)
ClariVest Asset Management LLC decreased its position in shares of SkyWest Inc. (NASDAQ:SKYW) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 107,692 shares of the company’s stock after selling 1,126 shares during the period. ClariVest Asset Management LLC’s holdings in SkyWest were worth $2,850,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Fund Advisors increased its stake in SkyWest by 1.8% in the first quarter. BlackRock Fund Advisors now owns 3,209,815 shares of the company’s stock valued at $64,164,000 after buying an additional 55,248 shares during the period. TIAA CREF Investment Management LLC increased its stake in SkyWest by 3.8% in the first quarter. TIAA CREF Investment Management LLC now owns 356,953 shares of the company’s stock valued at $7,135,000 after buying an additional 13,220 shares during the period. A.R.T. Advisors LLC increased its stake in SkyWest by 107.1% in the first quarter. A.R.T. Advisors LLC now owns 84,907 shares of the company’s stock valued at $1,697,000 after buying an additional 43,900 shares during the period. Invictus RG acquired a new stake in SkyWest during the first quarter valued at approximately $144,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in SkyWest during the first quarter valued at approximately $1,552,000. Institutional investors and hedge funds own 86.16% of the company’s stock.
Shares of SkyWest Inc. (NASDAQ:SKYW) traded up 1.40% during mid-day trading on Monday, reaching $28.90. 267,182 shares of the company were exchanged. The stock has a 50 day moving average price of $27.56 and a 200-day moving average price of $25.12. The stock has a market capitalization of $1.49 billion, a P/E ratio of 10.42 and a beta of 1.74. SkyWest Inc. has a 12 month low of $13.23 and a 12 month high of $29.87.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.10. The company had revenue of $801.34 million for the quarter, compared to analysts’ expectations of $764.04 million. SkyWest had a net margin of 4.63% and a return on equity of 8.47%. SkyWest’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. Analysts predict that SkyWest Inc. will post $2.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Shareholders of record on Friday, September 30th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.20 annualized dividend and a yield of 0.70%. SkyWest’s dividend payout ratio is currently 7.19%.
Several research firms have recently commented on SKYW. Zacks Investment Research raised shares of SkyWest from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Tuesday, August 2nd. Deutsche Bank AG upped their price objective on shares of SkyWest from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 29th. Five equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $28.40.
In other news, CFO Robert J. Simmons acquired 1,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were bought at an average cost of $27.69 per share, with a total value of $27,690.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Russell A. Childs sold 21,516 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $28.79, for a total transaction of $619,445.64. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company 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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