Meeder Asset Management Inc. Acquires 7,703 Shares of SkyWest, Inc. $SKYW

Meeder Asset Management Inc. lifted its stake in SkyWest, Inc. (NASDAQ:SKYW) by 148.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,882 shares of the transportation company’s stock after purchasing an additional 7,703 shares during the period. Meeder Asset Management Inc.’s holdings in SkyWest were worth $1,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in SkyWest by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock worth $2,061,000 after buying an additional 1,034 shares in the last quarter. United Services Automobile Association bought a new position in shares of SkyWest during the 1st quarter valued at approximately $227,000. Strs Ohio bought a new position in shares of SkyWest during the 1st quarter valued at approximately $1,075,000. Voya Investment Management LLC increased its holdings in SkyWest by 23.9% in the 1st quarter. Voya Investment Management LLC now owns 26,643 shares of the transportation company’s stock worth $2,328,000 after acquiring an additional 5,143 shares in the last quarter. Finally, GK Wealth Management LLC raised its stake in SkyWest by 9.8% during the 2nd quarter. GK Wealth Management LLC now owns 5,158 shares of the transportation company’s stock worth $531,000 after acquiring an additional 461 shares during the period. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Stock Up 2.0%

Shares of SKYW opened at $100.67 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.61. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 0.69 and a beta of 1.66. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $135.57. The business’s 50 day simple moving average is $100.46 and its 200-day simple moving average is $105.65.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.56 by $0.25. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. SkyWest had a net margin of 10.92% and a return on equity of 17.14%. SkyWest’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share. As a group, equities analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Buying and Selling at SkyWest

In other news, Director Meredith Siegfried Madden sold 4,725 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $106.54, for a total value of $503,401.50. Following the sale, the director directly owned 25,362 shares in the company, valued at $2,702,067.48. The trade was a 15.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SKYW. TD Cowen increased their price objective on shares of SkyWest from $124.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Wall Street Zen downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research lowered SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Cantor Fitzgerald set a $132.00 price objective on SkyWest in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.17.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.