SkyWest, Inc. $SKYW Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its position in SkyWest, Inc. (NASDAQ:SKYW) by 53.9% in the 1st quarter, Holdings Channel reports. The firm owned 10,613 shares of the transportation company’s stock after selling 12,387 shares during the period. Y Intercept Hong Kong Ltd’s holdings in SkyWest were worth $975,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in SkyWest by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 148,225 shares of the transportation company’s stock valued at $14,883,000 after buying an additional 12,635 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of SkyWest by 39.0% during the third quarter. JPMorgan Chase & Co. now owns 298,255 shares of the transportation company’s stock worth $30,011,000 after acquiring an additional 83,705 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in shares of SkyWest during the third quarter worth approximately $5,001,000. Ruffer LLP acquired a new position in shares of SkyWest in the 4th quarter valued at $3,021,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of SkyWest by 22.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 176,882 shares of the transportation company’s stock valued at $17,900,000 after acquiring an additional 31,904 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SKYW shares. The Goldman Sachs Group cut shares of SkyWest from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $126.00 to $115.00 in a research note on Thursday, July 2nd. Weiss Ratings lowered shares of SkyWest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. TD Cowen upped their target price on shares of SkyWest from $98.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Finally, Citigroup increased their target price on shares of SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.17.

SkyWest Stock Performance

Shares of SkyWest stock traded down $0.29 during trading hours on Friday, hitting $99.72. 323,862 shares of the company were exchanged, compared to its average volume of 421,739. SkyWest, Inc. has a 1 year low of $77.89 and a 1 year high of $123.94. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $89.39 and a 200-day moving average of $94.71. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 1.45 and a beta of 1.45.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, April 23rd. The transportation company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.35. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $993.06 million. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the company earned $2.42 earnings per share. As a group, analysts expect that SkyWest, Inc. will post 10.58 EPS for the current fiscal year.

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.