Semanteon Capital Management LP Makes New $566,000 Investment in SkyWest, Inc. $SKYW

Semanteon Capital Management LP bought a new stake in SkyWest, Inc. (NASDAQ:SKYW) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 5,630 shares of the transportation company’s stock, valued at approximately $566,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in SkyWest in the 3rd quarter valued at about $38,000. Elevation Point Wealth Partners LLC acquired a new position in shares of SkyWest during the second quarter worth approximately $40,000. EverSource Wealth Advisors LLC grew its stake in shares of SkyWest by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 339 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of SkyWest by 666.0% in the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 999 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of SkyWest by 105.8% in the third quarter. Blue Trust Inc. now owns 1,167 shares of the transportation company’s stock valued at $117,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Insider Activity at SkyWest

In other SkyWest news, insider Wade J. Steel sold 7,371 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $107.56, for a total value of $792,824.76. Following the sale, the insider directly owned 98,067 shares in the company, valued at approximately $10,548,086.52. This trade represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Meredith Siegfried Madden sold 4,725 shares of SkyWest stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $106.54, for a total transaction of $503,401.50. Following the transaction, the director directly owned 25,362 shares in the company, valued at approximately $2,702,067.48. This represents a 15.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.00% of the stock is currently owned by corporate insiders.

SkyWest Price Performance

Shares of SKYW opened at $103.23 on Friday. The stock has a market cap of $4.17 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 0.69 and a beta of 1.65. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $123.94. The stock’s 50-day moving average price is $101.77 and its two-hundred day moving average price is $103.87. The company has a current ratio of 0.65, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $993.12 million. During the same quarter in the prior year, the business earned $2.34 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SKYW. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. Cantor Fitzgerald set a $122.00 target price on SkyWest in a research report on Monday, January 26th. TD Cowen decreased their price target on SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Citigroup started coverage on SkyWest in a research report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price objective for the company. Finally, Zacks Research cut SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, SkyWest has an average rating of “Moderate Buy” and a consensus price target of $123.83.

About SkyWest

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.