SkyWest, Inc. (SKYW) Shares Sold by Harbour Capital Advisors LLC
Harbour Capital Advisors LLC lessened its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 17.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,000 shares of the transportation company’s stock after selling 1,748 shares during the period. Harbour Capital Advisors LLC’s holdings in SkyWest were worth $351,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc increased its position in SkyWest by 9.1% during the second quarter. Legal & General Group Plc now owns 93,386 shares of the transportation company’s stock worth $3,277,000 after buying an additional 7,821 shares during the period. Systematic Financial Management LP increased its position in SkyWest by 31.1% during the second quarter. Systematic Financial Management LP now owns 234,089 shares of the transportation company’s stock worth $8,217,000 after buying an additional 55,514 shares during the period. Victory Capital Management Inc. increased its position in SkyWest by 1.9% during the second quarter. Victory Capital Management Inc. now owns 759,204 shares of the transportation company’s stock worth $26,648,000 after buying an additional 14,217 shares during the period. Goldman Sachs Group Inc. increased its position in SkyWest by 45.0% during the second quarter. Goldman Sachs Group Inc. now owns 142,553 shares of the transportation company’s stock worth $5,003,000 after buying an additional 44,246 shares during the period. Finally, Bank of Nova Scotia acquired a new position in SkyWest during the second quarter worth approximately $708,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Jerry C. Atkin sold 110,000 shares of SkyWest stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $48.10, for a total value of $5,291,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wade J. Steel sold 4,500 shares of SkyWest stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $47.00, for a total value of $211,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 122,134 shares of company stock worth $5,862,156. Corporate insiders own 3.50% of the company’s stock.
SKYW has been the topic of several research analyst reports. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, October 3rd. ValuEngine lowered SkyWest from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 4th. Deutsche Bank AG lifted their price target on SkyWest from $47.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Imperial Capital lifted their price target on SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 31st. Finally, Cowen and Company lifted their price target on SkyWest from $44.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $48.33.
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SkyWest, Inc. (NASDAQ SKYW) traded up $0.75 during trading hours on Wednesday, hitting $51.40. The stock had a trading volume of 294,600 shares, compared to its average volume of 340,946. The firm has a market capitalization of $2,625.82, a price-to-earnings ratio of 16.08 and a beta of 1.74. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.09 and a current ratio of 1.24. SkyWest, Inc. has a 1-year low of $30.40 and a 1-year high of $51.60.
SkyWest (NASDAQ:SKYW) last released its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.03. The business had revenue of $831.93 million for the quarter, compared to analyst estimates of $817.43 million. SkyWest had a positive return on equity of 11.87% and a negative net margin of 4.15%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. analysts expect that SkyWest, Inc. will post 3.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 29th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, December 28th. SkyWest’s payout ratio is currently -12.26%.
SkyWest Company Profile
SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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