NFJ Investment Group LLC Sells 3,388 Shares of SkyWest, Inc. (NASDAQ:SKYW)

NFJ Investment Group LLC trimmed its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,134 shares of the transportation company’s stock after selling 3,388 shares during the quarter. NFJ Investment Group LLC owned 0.19% of SkyWest worth $4,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in SkyWest by 6.4% in the 1st quarter. BlackRock Inc. now owns 7,943,432 shares of the transportation company’s stock worth $432,759,000 after purchasing an additional 475,223 shares during the period. Alliancebernstein L.P. raised its holdings in SkyWest by 4.8% in the 2nd quarter. Alliancebernstein L.P. now owns 3,087,500 shares of the transportation company’s stock worth $132,979,000 after purchasing an additional 141,813 shares during the period. Bank of New York Mellon Corp raised its holdings in SkyWest by 19.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,467,351 shares of the transportation company’s stock worth $106,270,000 after purchasing an additional 410,290 shares during the period. U S Global Investors Inc. raised its holdings in SkyWest by 16.6% in the 2nd quarter. U S Global Investors Inc. now owns 2,403,038 shares of the transportation company’s stock worth $103,499,000 after purchasing an additional 342,740 shares during the period. Finally, Geode Capital Management LLC raised its holdings in SkyWest by 7.5% in the 1st quarter. Geode Capital Management LLC now owns 848,065 shares of the transportation company’s stock worth $46,202,000 after purchasing an additional 59,296 shares during the period. 86.31% of the stock is currently owned by institutional investors.

Separately, Raymond James raised their target price on SkyWest from $66.00 to $67.00 and gave the stock a “strong-buy” rating in a report on Friday, July 30th.

Shares of SKYW stock opened at $50.07 on Friday. SkyWest, Inc. has a 52-week low of $27.44 and a 52-week high of $61.15. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.93 and a current ratio of 1.02. The firm has a market capitalization of $2.52 billion, a PE ratio of 30.16 and a beta of 2.05. The stock has a fifty day simple moving average of $43.33 and a two-hundred day simple moving average of $47.54.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, July 29th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.94. SkyWest had a return on equity of 3.89% and a net margin of 3.80%. The business had revenue of $656.99 million during the quarter, compared to analyst estimates of $581.50 million. On average, sell-side analysts forecast that SkyWest, Inc. will post 3.24 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for SkyWest (NASDAQ:SKYW)

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