Inceptionr LLC Buys New Position in SkyWest, Inc. (NASDAQ:SKYW)

Inceptionr LLC purchased a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,053 shares of the transportation company’s stock, valued at approximately $264,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in SkyWest by 8.0% in the third quarter. PNC Financial Services Group Inc. now owns 3,933 shares of the transportation company’s stock worth $165,000 after purchasing an additional 291 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of SkyWest by 14.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,851 shares of the transportation company’s stock worth $120,000 after buying an additional 362 shares during the period. GAMMA Investing LLC bought a new position in shares of SkyWest in the 4th quarter worth about $29,000. Nisa Investment Advisors LLC lifted its position in SkyWest by 2.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 28,125 shares of the transportation company’s stock valued at $1,468,000 after acquiring an additional 700 shares during the period. Finally, Strs Ohio purchased a new position in SkyWest during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

SKYW traded up $1.17 during midday trading on Friday, hitting $77.94. 76,905 shares of the company traded hands, compared to its average volume of 452,590. The company’s 50-day moving average is $70.50 and its 200 day moving average is $58.45. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $3.14 billion, a PE ratio of 28.28 and a beta of 1.89. SkyWest, Inc. has a 52 week low of $27.95 and a 52 week high of $79.56.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.21. The company had revenue of $804.00 million for the quarter, compared to the consensus estimate of $800.07 million. SkyWest had a net margin of 3.83% and a return on equity of 5.45%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.45) earnings per share. On average, research analysts expect that SkyWest, Inc. will post 6.81 EPS for the current year.

Insider Transactions at SkyWest

In related news, CEO Russell A. Childs sold 32,286 shares of SkyWest stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $77.05, for a total transaction of $2,487,636.30. Following the transaction, the chief executive officer now directly owns 377,451 shares in the company, valued at $29,082,599.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director James L. Welch sold 2,000 shares of SkyWest stock in a transaction on Friday, March 15th. The shares were sold at an average price of $66.72, for a total transaction of $133,440.00. Following the transaction, the director now owns 56,067 shares in the company, valued at approximately $3,740,790.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Russell A. Childs sold 32,286 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $77.05, for a total transaction of $2,487,636.30. Following the completion of the transaction, the chief executive officer now directly owns 377,451 shares of the company’s stock, valued at approximately $29,082,599.55. The disclosure for this sale can be found here. Insiders sold 49,286 shares of company stock worth $3,777,576 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

SKYW has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. TheStreet raised SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd. Raymond James lifted their price target on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. StockNews.com raised shares of SkyWest from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Finally, TD Cowen raised shares of SkyWest from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $55.00 to $68.00 in a report on Monday, February 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.25.

About SkyWest

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.