KBC Group NV Has $4.08 Million Position in SkyWest, Inc. (SKYW)

KBC Group NV reduced its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,165 shares of the transportation company’s stock after selling 5,972 shares during the period. KBC Group NV owned about 0.22% of SkyWest worth $4,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flinton Capital Management LLC increased its position in 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 period. Bank of Montreal Can increased its position in 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 period. Ameritas Investment Partners Inc. bought a new position in SkyWest during the first quarter worth approximately $138,000. State of Alaska Department of Revenue increased its position in 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 bought a new position in SkyWest during the first quarter worth approximately $202,000. 90.32% of the stock is owned by institutional investors and hedge funds.

SkyWest, Inc. (NASDAQ SKYW) opened at 32.05 on Friday. SkyWest, Inc. has a 52 week low of $25.04 and a 52 week high of $39.85. The firm’s 50-day moving average price is $36.37 and its 200 day moving average price is $35.48. The firm’s market cap is $1.66 billion.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The company had revenue of $809.76 million during the quarter, compared to analyst estimates of $790.14 million. During the same period in the prior year, the company earned $0.77 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Equities analysts forecast that SkyWest, Inc. will post $3.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 29th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, September 28th. SkyWest’s payout ratio is presently -11.31%.

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A number of research firms recently commented on SKYW. BidaskClub downgraded SkyWest from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Tuesday, May 2nd. Deutsche Bank AG boosted their price target on SkyWest from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Cowen and Company boosted their price target on SkyWest from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. Finally, TheStreet raised SkyWest from a “c+” rating to a “b-” rating in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $41.67.

About SkyWest

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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