J. Goldman & Co LP Makes New Investment in SkyWest, Inc. $SKYW

J. Goldman & Co LP bought a new stake in SkyWest, Inc. (NASDAQ:SKYW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 130,792 shares of the transportation company’s stock, valued at approximately $12,992,000. J. Goldman & Co LP owned about 0.34% of SkyWest as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System boosted its position in shares of SkyWest by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company’s stock worth $1,150,000 after buying an additional 87 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in SkyWest by 1.7% during the 4th quarter. Maryland State Retirement & Pension System now owns 5,901 shares of the transportation company’s stock valued at $593,000 after acquiring an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in SkyWest by 1.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,192 shares of the transportation company’s stock valued at $923,000 after acquiring an additional 100 shares in the last quarter. Canada Pension Plan Investment Board raised its position in SkyWest by 4.2% during the second quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company’s stock worth $257,000 after acquiring an additional 100 shares during the last quarter. Finally, CWM LLC raised its position in SkyWest by 1.7% during the fourth quarter. CWM LLC now owns 6,601 shares of the transportation company’s stock worth $663,000 after acquiring an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

Shares of NASDAQ SKYW opened at $103.51 on Wednesday. The company has a market cap of $4.02 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. SkyWest, Inc. has a 12 month low of $77.89 and a 12 month high of $123.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.57 and a quick ratio of 0.46. The company has a 50-day simple moving average of $101.94 and a 200-day simple moving average of $95.64.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, July 23rd. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($0.16). SkyWest had a net margin of 9.78% and a return on equity of 14.58%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company posted $2.91 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities analysts anticipate that SkyWest, Inc. will post 10.62 earnings per share for the current year.

SkyWest announced that its board has approved a stock repurchase plan on Thursday, July 23rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the transportation company to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

SKYW has been the topic of several research reports. Weiss Ratings upgraded shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 16th. The Goldman Sachs Group downgraded SkyWest from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $126.00 to $115.00 in a research report on Thursday, July 2nd. TD Cowen increased their target price on SkyWest from $115.00 to $123.00 and gave the company a “buy” rating in a report on Monday. Finally, Citigroup raised their price target on SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.00.

Insiders Place Their Bets

In other SkyWest news, insider Wade J. Steel sold 22,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $111.44, for a total transaction of $2,451,680.00. Following the transaction, the insider owned 55,438 shares of the company’s stock, valued at $6,178,010.72. This represents a 28.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert J. Simmons sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $110.49, for a total value of $2,762,250.00. Following the sale, the chief financial officer owned 93,902 shares in the company, valued at $10,375,231.98. This trade represents a 21.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 115,226 shares of company stock valued at $12,855,192. Insiders own 1.50% of the company’s stock.

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.