Harvest Fund Management Co. Ltd Has $147,000 Position in SkyWest, Inc. (NASDAQ:SKYW)

Harvest Fund Management Co. Ltd cut its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 87.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,726 shares of the transportation company’s stock after selling 11,989 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in SkyWest were worth $147,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of SkyWest by 90.2% in the 2nd quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after buying an additional 261,349 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of SkyWest by 16.8% in the second quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock worth $94,510,000 after acquiring an additional 165,670 shares during the period. Millennium Management LLC boosted its holdings in SkyWest by 27.7% in the second quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after acquiring an additional 96,830 shares during the last quarter. Nicholas Investment Partners LP increased its position in SkyWest by 82.9% during the 2nd quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock valued at $15,451,000 after purchasing an additional 85,356 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in SkyWest by 12.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock worth $58,051,000 after purchasing an additional 76,007 shares during the last quarter. 81.30% of the stock is owned by institutional investors.

SkyWest Price Performance

Shares of NASDAQ SKYW opened at $113.96 on Thursday. The firm has a market capitalization of $4.60 billion, a P/E ratio of 19.68 and a beta of 1.93. The firm’s 50-day moving average price is $96.55 and its 200-day moving average price is $84.36. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. SkyWest, Inc. has a 1-year low of $45.42 and a 1-year high of $117.51.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share 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 business earned $0.55 EPS. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts anticipate that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Insider Transactions at SkyWest

In other news, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were 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 directly owns 97,654 shares of the company’s stock, valued at $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Russell A. Childs sold 27,903 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the completion of the transaction, the chief executive officer now directly owns 349,548 shares in the company, valued at approximately $38,964,115.56. The trade was a 7.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,467 shares of company stock valued at $10,082,596 over the last ninety days. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.