Quantbot Technologies LP Invests $731,000 in SkyWest, Inc. $SKYW

Quantbot Technologies LP purchased a new position in SkyWest, Inc. (NASDAQ:SKYW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,262 shares of the transportation company’s stock, valued at approximately $731,000.

Several other hedge funds have also recently bought and sold shares of the stock. Salomon & Ludwin LLC acquired a new stake in shares of SkyWest in the third quarter valued at approximately $38,000. Elevation Point Wealth Partners LLC bought a new position in SkyWest in the second quarter valued at $40,000. EverSource Wealth Advisors LLC increased its stake in SkyWest by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after buying an additional 339 shares during the last quarter. Farther Finance Advisors LLC increased its stake in SkyWest by 666.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company’s stock valued at $116,000 after buying an additional 999 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in SkyWest by 105.8% during the 3rd quarter. Blue Trust Inc. now owns 1,167 shares of the transportation company’s stock worth $117,000 after buying an additional 600 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Wade J. Steel sold 20,629 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total value of $2,197,607.37. Following the sale, the insider directly owned 77,438 shares in the company, valued at approximately $8,249,470.14. This trade represents a 21.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Meredith Siegfried Madden sold 4,725 shares of SkyWest stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $106.54, for a total transaction of $503,401.50. Following the sale, the director directly owned 25,362 shares in the company, valued at $2,702,067.48. This trade represents a 15.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 32,725 shares of company stock worth $3,493,834. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup assumed coverage on SkyWest in a research report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 target price on the stock. TD Cowen reduced their price target on SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Zacks Research downgraded SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Cantor Fitzgerald set a $122.00 price target on SkyWest in a research report on Monday, January 26th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.83.

SkyWest Stock Down 3.5%

Shares of SKYW opened at $92.03 on Friday. SkyWest, Inc. has a 52 week low of $74.70 and a 52 week high of $123.94. The firm has a market cap of $3.72 billion, a P/E ratio of 8.89, a price-to-earnings-growth ratio of 0.61 and a beta of 1.58. The firm’s 50-day simple moving average is $101.50 and its 200 day simple moving average is $102.98. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 0.65.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.04). The firm 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.34 earnings per share. On average, analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current year.

SkyWest Company Profile

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.