Illinois Municipal Retirement Fund Trims Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

Illinois Municipal Retirement Fund trimmed its position in SkyWest, Inc. (NASDAQ:SKYW) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,947 shares of the transportation company’s stock after selling 2,650 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in SkyWest were worth $1,250,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Invesco Ltd. increased its position in shares of SkyWest by 40.6% during the 3rd quarter. Invesco Ltd. now owns 923,722 shares of the transportation company’s stock worth $38,741,000 after purchasing an additional 266,762 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in SkyWest by 5,203.4% during the third quarter. EP Wealth Advisors LLC now owns 256,631 shares of the transportation company’s stock worth $10,763,000 after buying an additional 251,792 shares during the period. American Century Companies Inc. raised its stake in shares of SkyWest by 16.4% in the 3rd quarter. American Century Companies Inc. now owns 721,053 shares of the transportation company’s stock valued at $30,241,000 after acquiring an additional 101,459 shares during the period. Algert Global LLC acquired a new position in shares of SkyWest in the 3rd quarter worth approximately $3,689,000. Finally, Dark Forest Capital Management LP lifted its holdings in shares of SkyWest by 105.8% in the 3rd quarter. Dark Forest Capital Management LP now owns 64,272 shares of the transportation company’s stock worth $2,696,000 after acquiring an additional 33,039 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insider Buying and Selling at SkyWest

In other news, Director James L. Welch sold 2,000 shares of SkyWest stock in a transaction on Friday, March 15th. The shares were sold at an average price of $66.72, for a total transaction of $133,440.00. Following the completion of the sale, the director now directly owns 56,067 shares of the company’s stock, valued at approximately $3,740,790.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

SkyWest Price Performance

SKYW stock opened at $73.66 on Friday. The business’s 50-day moving average is $67.02 and its two-hundred day moving average is $55.10. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.80. The firm has a market capitalization of $2.97 billion, a P/E ratio of 26.59 and a beta of 1.95. SkyWest, Inc. has a 1 year low of $23.59 and a 1 year high of $79.21.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, April 25th. The transportation company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.21. SkyWest had a net margin of 3.83% and a return on equity of 5.46%. The firm had revenue of $804.00 million for the quarter, compared to analyst estimates of $800.07 million. During the same period in the prior year, the firm earned ($0.45) earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. Analysts anticipate that SkyWest, Inc. will post 6.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on SKYW. Raymond James upped their price target on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. TD Cowen raised SkyWest from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $68.00 in a research report on Monday, February 5th. StockNews.com upgraded shares of SkyWest from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Evercore ISI raised their price objective on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Finally, TheStreet raised shares of SkyWest from a “c” rating to a “b-” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.25.

SkyWest 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.