Public Sector Pension Investment Board Has $17.35 Million Stake in SkyWest, Inc. $SKYW

Public Sector Pension Investment Board grew its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 172,424 shares of the transportation company’s stock after purchasing an additional 15,793 shares during the quarter. Public Sector Pension Investment Board owned about 0.43% of SkyWest worth $17,349,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Allianz Asset Management GmbH boosted its stake in SkyWest by 214.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 251,760 shares of the transportation company’s stock valued at $25,332,000 after purchasing an additional 171,704 shares during the period. Owl Creek Asset Management L.P. bought a new stake in shares of SkyWest in the second quarter valued at approximately $9,856,000. JPMorgan Chase & Co. grew its stake in shares of SkyWest by 60.0% in the second quarter. JPMorgan Chase & Co. now owns 214,550 shares of the transportation company’s stock worth $22,092,000 after acquiring an additional 80,486 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in shares of SkyWest by 40.3% in the second quarter. Qube Research & Technologies Ltd now owns 255,251 shares of the transportation company’s stock worth $26,283,000 after acquiring an additional 73,374 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in SkyWest during the second quarter worth $6,495,000. 81.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $106.54, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

SkyWest Price Performance

Shares of SkyWest stock opened at $104.17 on Friday. The firm has a market cap of $4.18 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 0.70 and a beta of 1.65. The firm’s 50-day simple moving average is $101.86 and its 200-day simple moving average is $104.14. SkyWest, Inc. has a twelve month low of $74.70 and a twelve month high of $123.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.65.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.04). The business had revenue of $1.02 billion during 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 last year, the company earned $2.34 EPS. As a group, research analysts expect that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

SkyWest 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.