Driehaus Capital Management LLC Acquires New Stake in SkyWest, Inc. (SKYW)
Driehaus Capital Management LLC acquired a new position in SkyWest, Inc. (NASDAQ:SKYW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,615 shares of the transportation company’s stock, valued at approximately $1,254,000.
Other institutional investors have also added to or reduced their stakes in the company. Strs Ohio increased its position in shares of SkyWest by 450.0% in the fourth quarter. Strs Ohio now owns 3,300 shares of the transportation company’s stock worth $175,000 after acquiring an additional 2,700 shares in the last quarter. Suntrust Banks Inc. purchased a new position in shares of SkyWest in the fourth quarter valued at $218,000. Teacher Retirement System of Texas purchased a new position in shares of SkyWest in the fourth quarter valued at $234,000. Shelton Capital Management purchased a new position in shares of SkyWest in the third quarter valued at $218,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of SkyWest by 218.6% in the third quarter. Envestnet Asset Management Inc. now owns 5,069 shares of the transportation company’s stock valued at $223,000 after purchasing an additional 3,478 shares during the period. 90.33% of the stock is owned by institutional investors.
In other SkyWest news, COO Terry Vais sold 5,800 shares of the stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $56.00, for a total transaction of $324,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Woodward sold 4,500 shares of the stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $56.90, for a total transaction of $256,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 49,639 shares of company stock worth $2,781,474 over the last quarter. 3.50% of the stock is currently owned by insiders.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, February 1st. The transportation company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.10. SkyWest had a net margin of 13.39% and a return on equity of 12.08%. The firm had revenue of $797.20 million for the quarter, compared to the consensus estimate of $778.13 million. During the same period in the prior year, the firm posted $0.54 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. analysts anticipate that SkyWest, Inc. will post 4.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Friday, March 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.67%. This is an increase from SkyWest’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, March 28th. SkyWest’s dividend payout ratio is 3.97%.
SKYW has been the subject of several analyst reports. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Wednesday, November 22nd. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Cowen restated a “buy” rating and issued a $60.00 target price on shares of SkyWest in a research note on Tuesday, January 9th. Raymond James Financial upped their target price on shares of SkyWest from $62.00 to $65.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Finally, BidaskClub downgraded shares of SkyWest from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the stock. SkyWest presently has an average rating of “Buy” and an average price target of $56.00.
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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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