New York State Teachers Retirement System reduced its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,786 shares of the transportation company’s stock after selling 1,223 shares during the quarter. New York State Teachers Retirement System owned 0.27% of SkyWest worth $8,359,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc grew its stake in SkyWest by 32.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,852 shares of the transportation company’s stock worth $112,000 after purchasing an additional 457 shares in the last quarter. Quantamental Technologies LLC acquired a new position in SkyWest during the 1st quarter worth $191,000. Magnus Financial Group LLC acquired a new position in SkyWest during the 1st quarter worth $213,000. Miles Capital Inc. acquired a new position in SkyWest during the 1st quarter worth $226,000. Finally, 6 Meridian acquired a new position in SkyWest during the 1st quarter worth $230,000. Institutional investors own 90.49% of the company’s stock.
In other news, CEO Russell A. Childs sold 17,853 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $60.39, for a total transaction of $1,078,142.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert J. Simmons sold 22,577 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $60.53, for a total value of $1,366,585.81. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,634 shares of company stock valued at $5,319,783. 3.60% of the stock is owned by company insiders.
SKYW has been the subject of several analyst reports. Evercore ISI reissued a “buy” rating and set a $72.00 target price on shares of SkyWest in a research note on Thursday, August 8th. Imperial Capital reissued an “outperform” rating and set a $74.00 target price (up from $69.00) on shares of SkyWest in a research note on Tuesday, April 30th. ValuEngine cut SkyWest from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Finally, BidaskClub cut SkyWest from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. SkyWest presently has an average rating of “Buy” and a consensus target price of $67.63.
Shares of NASDAQ SKYW opened at $53.72 on Friday. The stock has a market cap of $2.86 billion, a PE ratio of 10.14 and a beta of 1.59. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 1.45. SkyWest, Inc. has a 52-week low of $42.38 and a 52-week high of $65.80. The business has a 50-day moving average price of $59.93 and a 200 day moving average price of $57.57.
SkyWest (NASDAQ:SKYW) last announced its earnings results on Wednesday, July 31st. The transportation company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.11. The firm had revenue of $725.34 million during the quarter, compared to analysts’ expectations of $736.71 million. SkyWest had a return on equity of 15.47% and a net margin of 10.53%. The business’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.43 EPS. Sell-side analysts anticipate that SkyWest, Inc. will post 6.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.89%. The ex-dividend date is Friday, September 27th. SkyWest’s dividend payout ratio is presently 9.06%.
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.
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