Navellier & Associates Inc. Makes New $1.05 Million Investment in SkyWest, Inc. (NASDAQ:SKYW)

Navellier & Associates Inc. purchased a new position in SkyWest, Inc. (NASDAQ:SKYW) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,303 shares of the transportation company’s stock, valued at approximately $1,046,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SKYW. Commonwealth Equity Services LLC grew its stake in SkyWest by 1.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company’s stock worth $681,000 after acquiring an additional 152 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in SkyWest by 3.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,660 shares of the transportation company’s stock worth $465,000 after purchasing an additional 213 shares during the period. The Manufacturers Life Insurance Company raised its position in SkyWest by 1.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company’s stock valued at $1,803,000 after purchasing an additional 214 shares in the last quarter. CWM LLC lifted its holdings in shares of SkyWest by 57.3% in the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after buying an additional 279 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of SkyWest by 45.9% during the 2nd quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock worth $76,000 after buying an additional 292 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen upped their price objective on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a research report on Friday, November 15th. Finally, Raymond James lifted their price objective on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, SkyWest has an average rating of “Moderate Buy” and a consensus target price of $105.75.

SkyWest Stock Performance

SKYW stock opened at $109.86 on Friday. SkyWest, Inc. has a one year low of $45.42 and a one year high of $116.47. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 18.78 and a beta of 1.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. The firm has a 50-day simple moving average of $93.77 and a two-hundred day simple moving average of $83.31.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. During the same period in the prior year, the firm posted $0.55 earnings per share. The business’s quarterly revenue was up 19.1% on a year-over-year basis. On average, equities analysts forecast that SkyWest, Inc. will post 7.16 EPS for the current fiscal year.

Insider Buying and Selling at SkyWest

In other SkyWest news, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the sale, the insider now owns 97,654 shares of the company’s stock, valued at approximately $10,202,889.92. The trade was a 16.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronald J. Mittelstaedt sold 25,000 shares of SkyWest stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total value of $2,801,500.00. Following the sale, the director now directly owns 11,283 shares of the company’s stock, valued at $1,264,372.98. This trade represents a 68.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,467 shares of company stock worth $10,082,596. 2.00% of the stock is owned by insiders.

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.