VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.13 Million in SkyWest, Inc. $SKYW

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in SkyWest, Inc. (NASDAQ:SKYW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,700 shares of the transportation company’s stock, valued at approximately $2,131,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.05% of SkyWest as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of SkyWest by 1,075.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 60,181 shares of the transportation company’s stock worth $5,302,000 after buying an additional 55,062 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in SkyWest by 5.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,322 shares of the transportation company’s stock valued at $290,000 after purchasing an additional 186 shares during the period. GAMMA Investing LLC raised its stake in SkyWest by 11.5% during the 1st quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company’s stock valued at $152,000 after purchasing an additional 180 shares during the period. Intech Investment Management LLC raised its stake in SkyWest by 47.2% during the 1st quarter. Intech Investment Management LLC now owns 47,497 shares of the transportation company’s stock valued at $4,150,000 after purchasing an additional 15,239 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in SkyWest during the 1st quarter valued at approximately $209,000. Institutional investors own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

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

SkyWest Stock Performance

NASDAQ:SKYW opened at $101.60 on Wednesday. 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, Inc. has a 1 year low of $74.70 and a 1 year high of $135.57. The stock’s 50 day simple moving average is $108.53 and its two-hundred day simple moving average is $103.33. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 1.00 and a beta of 1.86.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.57. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $979.95 million. During the same quarter in the previous year, the company posted $1.82 EPS. The company’s revenue was up 19.4% compared to the same quarter last year. As a group, equities analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SkyWest news, CEO Russell A. Childs sold 26,000 shares of SkyWest stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $116.06, for a total value of $3,017,560.00. Following the sale, the chief executive officer owned 404,883 shares of the company’s stock, valued at $46,990,720.98. The trade was a 6.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Greg Wooley sold 2,000 shares of SkyWest stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total value of $233,660.00. Following the completion of the sale, the vice president directly owned 66,737 shares in the company, valued at approximately $7,796,883.71. The trade was a 2.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,186 shares of company stock worth $10,440,398. Insiders own 1.20% of the company’s stock.

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.