BI Asset Management Fondsmaeglerselskab A S Sells 12,356 Shares of SkyWest, Inc. $SKYW

BI Asset Management Fondsmaeglerselskab A S lowered its stake in SkyWest, Inc. (NASDAQ:SKYW) by 35.6% during the third quarter, HoldingsChannel.com reports. The firm owned 22,384 shares of the transportation company’s stock after selling 12,356 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in SkyWest were worth $2,252,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in shares of SkyWest by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company’s stock worth $1,150,000 after buying an additional 87 shares during the period. Soltis Investment Advisors LLC increased its stake in SkyWest by 0.4% in the second quarter. Soltis Investment Advisors LLC now owns 21,920 shares of the transportation company’s stock valued at $2,257,000 after purchasing an additional 95 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in SkyWest by 4.2% in the second 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. Maryland State Retirement & Pension System raised its holdings in SkyWest by 0.9% in the second quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company’s stock worth $1,225,000 after purchasing an additional 106 shares during the period. Finally, Evergreen Capital Management LLC boosted its position in shares of SkyWest by 2.0% during the second quarter. Evergreen Capital Management LLC now owns 5,827 shares of the transportation company’s stock worth $600,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Price Performance

Shares of SKYW opened at $105.96 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. SkyWest, Inc. has a twelve month low of $74.70 and a twelve month high of $123.94. The stock has a market capitalization of $4.25 billion, a P/E ratio of 10.24, a P/E/G ratio of 0.71 and a beta of 1.65. The company has a 50 day moving average of $101.56 and a 200-day moving average of $104.47.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, January 29th. The transportation company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.04). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $993.12 million. SkyWest had a return on equity of 16.35% and a net margin of 10.56%.The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 EPS. As a group, equities research analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on SKYW. Zacks Research downgraded SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Wall Street Zen lowered SkyWest from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Citigroup started coverage on SkyWest in a report on Thursday, December 4th. They set a “neutral” rating and a $112.00 price objective on the stock. Cantor Fitzgerald set a $122.00 target price on SkyWest in a research note on Monday, January 26th. Finally, TD Cowen dropped their target price on shares of SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, SkyWest has a consensus rating of “Moderate Buy” and an average price target of $123.83.

Insider Activity at SkyWest

In other news, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $106.54, for a total value of $503,401.50. Following the completion of the transaction, the director owned 25,362 shares in the company, valued at $2,702,067.48. This trade represents a 15.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

About SkyWest

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.