SummerHaven Investment Management LLC Makes New $753,000 Investment in SkyWest, Inc. $SKYW

SummerHaven Investment Management LLC bought a new position in SkyWest, Inc. (NASDAQ:SKYW) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 7,487 shares of the transportation company’s stock, valued at approximately $753,000.

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in SkyWest by 4.6% during 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 purchasing an additional 1,034 shares during the last quarter. United Services Automobile Association acquired a new stake in shares of SkyWest during the 1st quarter worth approximately $227,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of SkyWest by 66.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 5,513 shares of the transportation company’s stock worth $594,000 after buying an additional 2,191 shares during the last quarter. Fifth Third Bancorp lifted its holdings in SkyWest by 38.4% in the second quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 153 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in SkyWest by 7.9% in the second quarter. State of Alaska Department of Revenue now owns 24,107 shares of the transportation company’s stock worth $2,482,000 after acquiring an additional 1,760 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insider Buying and Selling

In other SkyWest news, Director Meredith Siegfried Madden sold 4,725 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,702,067.48. This represents a 15.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is owned by company insiders.

SkyWest Stock Performance

Shares of SKYW stock opened at $97.48 on Thursday. SkyWest, Inc. has a 52 week low of $74.70 and a 52 week high of $135.57. The firm has a 50 day moving average of $101.09 and a two-hundred day moving average of $105.01. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $3.91 billion, a PE ratio of 9.30, a P/E/G ratio of 0.68 and a beta of 1.66.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.56 by $0.25. SkyWest had a return on equity of 17.14% and a net margin of 10.92%.The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $2.16 EPS. SkyWest’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, research analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SKYW. Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a research note on Monday. Wall Street Zen cut shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research lowered SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Finally, TD Cowen lowered their price target on SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.83.

SkyWest 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.