Spouting Rock Asset Management LLC boosted its stake in SkyWest, Inc. (NASDAQ:SKYW – Get Rating) by 12.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 90,569 shares of the transportation company’s stock after buying an additional 10,032 shares during the period. SkyWest makes up 2.8% of Spouting Rock Asset Management LLC’s portfolio, making the stock its 11th largest holding. Spouting Rock Asset Management LLC owned 0.18% of SkyWest worth $3,559,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the stock. First Trust Advisors LP increased its position in SkyWest by 9.9% during the 1st quarter. First Trust Advisors LP now owns 76,307 shares of the transportation company’s stock valued at $4,143,000 after purchasing an additional 6,888 shares during the period. Morgan Stanley increased its position in shares of SkyWest by 77.8% during the second quarter. Morgan Stanley now owns 333,359 shares of the transportation company’s stock worth $14,358,000 after purchasing an additional 145,827 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in SkyWest by 10.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,056 shares of the transportation company’s stock worth $496,000 after acquiring an additional 977 shares in the last quarter. Raymond James & Associates grew its stake in shares of SkyWest by 133.7% in the 3rd quarter. Raymond James & Associates now owns 59,580 shares of the transportation company’s stock valued at $2,940,000 after purchasing an additional 34,089 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of SkyWest by 12.4% in the third quarter. Deutsche Bank AG now owns 163,949 shares of the transportation company’s stock worth $8,090,000 after acquiring an additional 18,055 shares during the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on SKYW shares. Raymond James downgraded SkyWest from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft decreased their price target on SkyWest from $39.00 to $30.00 in a research note on Friday, April 29th. StockNews.com began coverage on SkyWest in a report on Thursday, March 31st. They issued a “hold” rating for the company. The Goldman Sachs Group decreased their target price on shares of SkyWest from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 7th. Finally, Zacks Investment Research raised shares of SkyWest from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research report on Tuesday, March 15th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.60.
SkyWest (NASDAQ:SKYW – Get Rating) last posted its earnings results on Thursday, April 28th. The transportation company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.36. The firm had revenue of $735.15 million during the quarter, compared to analysts’ expectations of $699.63 million. SkyWest had a net margin of 3.22% and a return on equity of 6.95%. The business’s revenue was up 37.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. On average, sell-side analysts predict that SkyWest, Inc. will post 0.85 earnings per share for the current year.
In other SkyWest news, Director Jerry C. Atkin acquired 55,000 shares of the business’s stock in a transaction on Friday, March 11th. The stock was purchased at an average price of $25.33 per share, for a total transaction of $1,393,150.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
SkyWest Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on SkyWest (SKYW)
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