Jupiter Asset Management Ltd. Decreases Position in SkyWest, Inc. (NASDAQ:SKYW)

Jupiter Asset Management Ltd. lowered its position in SkyWest, Inc. (NASDAQ:SKYW) by 62.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,717 shares of the transportation company’s stock after selling 11,217 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in SkyWest were worth $273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Swiss National Bank increased its holdings in SkyWest by 7.6% during the 1st quarter. Swiss National Bank now owns 29,800 shares of the transportation company’s stock valued at $860,000 after acquiring an additional 2,100 shares in the last quarter. US Bancorp DE lifted its position in shares of SkyWest by 39.5% in the first quarter. US Bancorp DE now owns 3,911 shares of the transportation company’s stock valued at $112,000 after acquiring an additional 1,107 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of SkyWest by 49.9% in the first quarter. HighTower Advisors LLC now owns 15,968 shares of the transportation company’s stock valued at $460,000 after acquiring an additional 5,318 shares in the last quarter. Citigroup Inc. boosted its stake in shares of SkyWest by 7.6% during the first quarter. Citigroup Inc. now owns 74,418 shares of the transportation company’s stock valued at $2,147,000 after acquiring an additional 5,243 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in SkyWest by 56.8% during the 1st quarter. MetLife Investment Management LLC now owns 26,137 shares of the transportation company’s stock worth $754,000 after purchasing an additional 9,464 shares in the last quarter. Institutional investors and hedge funds own 79.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SKYW. Evercore ISI raised their price target on shares of SkyWest from $38.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, August 28th. StockNews.com started coverage on shares of SkyWest in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Raymond James raised shares of SkyWest from a “market perform” rating to an “outperform” rating and set a $55.00 target price for the company in a research note on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.25.

SkyWest Stock Performance

NASDAQ SKYW opened at $47.36 on Tuesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.86. SkyWest, Inc. has a 1-year low of $14.76 and a 1-year high of $47.48. The business’s 50-day simple moving average is $41.91 and its 200-day simple moving average is $39.32. The firm has a market capitalization of $1.94 billion, a P/E ratio of -98.66 and a beta of 1.96.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 26th. The transportation company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $766.20 million during the quarter, compared to analysts’ expectations of $756.27 million. SkyWest had a negative net margin of 1.06% and a positive return on equity of 0.75%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 EPS. Equities analysts predict that SkyWest, Inc. will post 0.45 EPS for the current 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.