Horizon Investments LLC Decreases Position in SkyWest, Inc. $SKYW

Horizon Investments LLC trimmed its position in SkyWest, Inc. (NASDAQ:SKYW) by 35.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,037 shares of the transportation company’s stock after selling 7,758 shares during the quarter. Horizon Investments LLC’s holdings in SkyWest were worth $1,409,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new position in shares of SkyWest during the third quarter valued at approximately $62,000. EverSource Wealth Advisors LLC boosted its stake in shares of SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after acquiring an additional 339 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of SkyWest during the fourth quarter worth approximately $83,000. Farther Finance Advisors LLC increased its position in shares of SkyWest by 666.0% during the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company’s stock worth $116,000 after purchasing an additional 999 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in SkyWest by 17.6% in the 4th quarter. Blue Trust Inc. now owns 1,372 shares of the transportation company’s stock valued at $138,000 after purchasing an additional 205 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Stock Up 5.5%

Shares of NASDAQ SKYW opened at $87.82 on Thursday. The company has a market capitalization of $3.48 billion, a P/E ratio of 8.42, a P/E/G ratio of 1.20 and a beta of 1.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.62 and a quick ratio of 0.51. The company has a 50 day simple moving average of $93.08 and a 200-day simple moving average of $98.05. SkyWest, Inc. has a 1 year low of $80.00 and a 1 year high of $123.94.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, April 23rd. The transportation company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $993.06 million. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 earnings per share. On average, equities research analysts predict that SkyWest, Inc. will post 10.69 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup decreased their price objective on SkyWest from $101.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. TD Cowen decreased their price target on shares of SkyWest from $106.00 to $98.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Finally, Cantor Fitzgerald set a $122.00 price objective on shares of SkyWest in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $117.00.

Insider Activity at SkyWest

In other 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 transaction of $2,197,607.37. Following the completion of the transaction, the insider directly owned 77,438 shares in the company, valued at approximately $8,249,470.14. This represents a 21.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

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.