SG Capital Management LLC acquired a new position in SkyWest, Inc. (NASDAQ:SKYW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 278,212 shares of the transportation company’s stock, valued at approximately $9,765,000. SkyWest accounts for approximately 1.7% of SG Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. SG Capital Management LLC owned approximately 0.54% of SkyWest as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Flinton Capital Management LLC increased its stake in shares of SkyWest by 3.3% in the first quarter. Flinton Capital Management LLC now owns 3,162 shares of the transportation company’s stock worth $108,000 after buying an additional 102 shares during the last quarter. Bank of Montreal Can increased its stake in shares of SkyWest by 10.0% in the first quarter. Bank of Montreal Can now owns 3,675 shares of the transportation company’s stock worth $126,000 after buying an additional 334 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of SkyWest during the first quarter worth approximately $138,000. State of Alaska Department of Revenue boosted its stake in shares of SkyWest by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 5,720 shares of the transportation company’s stock worth $195,000 after buying an additional 140 shares during the period. Finally, Laurion Capital Management LP purchased a new stake in shares of SkyWest during the first quarter worth approximately $202,000. Institutional investors own 90.84% of the company’s stock.
Shares of SkyWest, Inc. (NASDAQ SKYW) traded down 4.05% during mid-day trading on Friday, hitting $36.70. The company’s stock had a trading volume of 457,239 shares. The stock’s 50 day moving average price is $36.62 and its 200 day moving average price is $35.58. SkyWest, Inc. has a 52-week low of $25.04 and a 52-week high of $39.85. The company’s market cap is $1.90 billion.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08. The business had revenue of $809.76 million during the quarter, compared to the consensus estimate of $790.14 million. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. Equities analysts forecast that SkyWest, Inc. will post $3.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.87%. SkyWest’s dividend payout ratio is currently -11.31%.
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A number of equities research analysts have commented on SKYW shares. ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, May 2nd. BidaskClub cut SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reaffirmed an “outperform” rating and set a $44.00 target price (up previously from $40.00) on shares of SkyWest in a research report on Monday, August 7th. Finally, TheStreet raised SkyWest from a “c+” rating to a “b-” rating in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $41.67.
SkyWest Company Profile
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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