USA Financial Formulas Grows Holdings in SkyWest, Inc. (NASDAQ:SKYW)

USA Financial Formulas raised its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 63.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,180 shares of the transportation company’s stock after purchasing an additional 459 shares during the quarter. USA Financial Formulas’ holdings in SkyWest were worth $118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SKYW. Pacer Advisors Inc. boosted its position in SkyWest by 2.3% during the second quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock worth $184,855,000 after purchasing an additional 51,180 shares during the period. Geode Capital Management LLC increased its holdings in shares of SkyWest by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock worth $81,697,000 after buying an additional 6,542 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in SkyWest by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock valued at $58,051,000 after purchasing an additional 76,007 shares in the last quarter. SW Investment Management LLC raised its holdings in shares of SkyWest by 13.2% during the 2nd quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock valued at $49,242,000 after buying an additional 70,000 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of SkyWest by 42.2% in the 3rd quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock worth $41,162,000 after acquiring an additional 143,661 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Price Performance

Shares of SKYW opened at $108.97 on Friday. The company’s fifty day moving average price is $108.19 and its 200-day moving average price is $91.82. SkyWest, Inc. has a 1-year low of $48.42 and a 1-year high of $117.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76. The firm has a market capitalization of $4.39 billion, a PE ratio of 18.63 and a beta of 1.98.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.24. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, equities research analysts predict that SkyWest, Inc. will post 7.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Cowen increased their target price on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Raymond James lifted their target price on shares of SkyWest from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.25.

Insiders Place Their Bets

In other news, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the transaction, the insider now owns 97,654 shares in the company, valued at $10,202,889.92. The trade was a 16.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald J. Mittelstaedt sold 25,000 shares of SkyWest stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total transaction of $2,801,500.00. Following the sale, the director now directly owns 11,283 shares in the company, valued at approximately $1,264,372.98. The trade was a 68.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,467 shares of company stock worth $10,082,596. Company insiders own 2.50% of the company’s stock.

About SkyWest

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.