Allianz Asset Management GmbH Buys 63,375 Shares of SkyWest, Inc. $SKYW

Allianz Asset Management GmbH grew its stake in SkyWest, Inc. (NASDAQ:SKYW) by 379.9% in the 2nd quarter, Holdings Channel reports. The firm owned 80,056 shares of the transportation company’s stock after purchasing an additional 63,375 shares during the period. Allianz Asset Management GmbH’s holdings in SkyWest were worth $8,243,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SKYW. Nuveen LLC bought a new position in SkyWest in the 1st quarter worth $37,474,000. Brandywine Global Investment Management LLC bought a new position in SkyWest in the 1st quarter worth $12,839,000. Panagora Asset Management Inc. raised its holdings in SkyWest by 243.9% in the 1st quarter. Panagora Asset Management Inc. now owns 176,573 shares of the transportation company’s stock worth $15,427,000 after purchasing an additional 125,235 shares in the last quarter. Bandera Partners LLC raised its holdings in SkyWest by 138.1% in the 1st quarter. Bandera Partners LLC now owns 209,000 shares of the transportation company’s stock worth $18,260,000 after purchasing an additional 121,240 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in SkyWest by 8.3% in the 1st quarter. American Century Companies Inc. now owns 1,505,919 shares of the transportation company’s stock worth $131,572,000 after purchasing an additional 115,619 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.

SkyWest Stock Up 0.3%

NASDAQ:SKYW opened at $101.60 on Wednesday. SkyWest, Inc. has a 1-year low of $74.70 and a 1-year high of $135.57. The firm’s 50-day moving average price is $108.53 and its 200-day moving average price is $103.33. The company has a market capitalization of $4.10 billion, a PE ratio of 10.34, a P/E/G ratio of 1.00 and a beta of 1.86. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.34 by $0.57. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $979.95 million. During the same period in the prior year, the firm posted $1.82 EPS. SkyWest’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on SKYW shares. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a report on Wednesday, October 8th. Evercore ISI upped their target price on shares of SkyWest from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Zacks Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Raymond James Financial raised shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, SkyWest presently has an average rating of “Buy” and an average price target of $126.75.

Insider Activity at SkyWest

In related news, Director James L. Welch sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $116.09, for a total transaction of $1,160,900.00. Following the sale, the director directly owned 27,717 shares of the company’s stock, valued at approximately $3,217,666.53. This represents a 26.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Greg Wooley sold 2,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $116.83, for a total transaction of $233,660.00. Following the sale, the vice president directly owned 66,737 shares in the company, valued at $7,796,883.71. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,186 shares of company stock worth $10,440,398 in the last ninety days. 1.20% of the stock is currently owned by company insiders.

SkyWest Company 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.