SkyWest, Inc. $SKYW Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 39.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 298,255 shares of the transportation company’s stock after acquiring an additional 83,705 shares during the period. JPMorgan Chase & Co.’s holdings in SkyWest were worth $30,011,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its position in SkyWest by 214.5% in the third quarter. Allianz Asset Management GmbH now owns 251,760 shares of the transportation company’s stock valued at $25,332,000 after purchasing an additional 171,704 shares during the period. Owl Creek Asset Management L.P. acquired a new stake in shares of SkyWest during the 2nd quarter worth about $9,856,000. Qube Research & Technologies Ltd increased its position in shares of SkyWest by 40.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 255,251 shares of the transportation company’s stock worth $26,283,000 after purchasing an additional 73,374 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in SkyWest in the 2nd quarter valued at about $6,495,000. Finally, American Century Companies Inc. lifted its position in SkyWest by 3.9% in the second quarter. American Century Companies Inc. now owns 1,565,354 shares of the transportation company’s stock valued at $161,185,000 after buying an additional 59,435 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SKYW shares. Wall Street Zen cut shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Cantor Fitzgerald set a $122.00 target price on shares of SkyWest in a report on Monday, January 26th. Citigroup began coverage on SkyWest in a research report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 target price on the stock. 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, January 26th. Finally, Zacks Research cut SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. One investment 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. According to data from MarketBeat.com, SkyWest presently has an average rating of “Moderate Buy” and an average target price of $123.83.

Insiders Place Their Bets

In related news, insider Wade J. Steel sold 20,629 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total value of $2,197,607.37. Following the transaction, the insider owned 77,438 shares of the company’s stock, valued at $8,249,470.14. This represents a 21.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction 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 completion of the sale, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,725 shares of company stock worth $3,493,834 over the last 90 days. Company insiders own 2.00% of the company’s stock.

SkyWest Stock Performance

Shares of SkyWest stock opened at $104.08 on Friday. SkyWest, Inc. has a one year low of $74.70 and a one year high of $123.94. The company has a market cap of $4.21 billion, a PE ratio of 10.06, a P/E/G ratio of 0.70 and a beta of 1.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 0.65. The business has a 50-day simple moving average of $102.01 and a 200-day simple moving average of $103.64.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share for the quarter, missing the consensus estimate 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 period last year, the business earned $2.34 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

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.