Vanguard Group Inc. lifted its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW – Free Report) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,966,485 shares of the transportation company’s stock after purchasing an additional 152,863 shares during the quarter. Vanguard Group Inc. owned 0.12% of SkyWest worth $498,685,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SkyWest by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock valued at $2,061,000 after purchasing an additional 1,034 shares in the last quarter. United Services Automobile Association bought a new stake in SkyWest in the first quarter valued at approximately $227,000. M&T Bank Corp raised its stake in SkyWest by 7.6% during the second quarter. M&T Bank Corp now owns 2,825 shares of the transportation company’s stock worth $290,000 after buying an additional 199 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of SkyWest by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after acquiring an additional 339 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in SkyWest by 8.8% in the second quarter. First Trust Advisors LP now owns 85,577 shares of the transportation company’s stock worth $8,812,000 after purchasing an additional 6,938 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.
SkyWest Stock Up 2.3%
Shares of SKYW opened at $83.22 on Wednesday. SkyWest, Inc. has a 1 year low of $80.00 and a 1 year high of $123.94. The firm has a market cap of $3.30 billion, a P/E ratio of 7.98, a P/E/G ratio of 1.17 and a beta of 1.48. The stock has a 50 day simple moving average of $93.36 and a two-hundred day simple moving average of $98.14. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.62 and a quick ratio of 0.51.
Insider Activity
In other news, insider Wade J. Steel sold 20,629 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the transaction, the insider directly owned 77,438 shares of the company’s stock, valued at approximately $8,249,470.14. This trade represents a 21.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.
Wall Street Analyst Weigh In
SKYW has been the topic of a number of research reports. TD Cowen lowered their target price on SkyWest from $106.00 to $98.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Cantor Fitzgerald set a $122.00 price target on SkyWest in a report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Finally, Citigroup cut their target price on shares of SkyWest from $101.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, SkyWest currently has a consensus rating of “Moderate Buy” and an average target price of $117.00.
Read Our Latest Research Report on SkyWest
About SkyWest
SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.
Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.
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