Federated Hermes Inc. Sells 74,979 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Federated Hermes Inc. reduced its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 19.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 307,473 shares of the transportation company’s stock after selling 74,979 shares during the period. Federated Hermes Inc. owned about 0.76% of SkyWest worth $25,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its position in SkyWest by 1.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company’s stock worth $681,000 after buying an additional 152 shares during the period. CWM LLC grew its stake in shares of SkyWest by 57.3% in the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after purchasing an additional 279 shares during the last quarter. GAMMA Investing LLC increased its holdings in SkyWest by 45.9% in the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 292 shares during the period. Hanseatic Management Services Inc. raised its position in SkyWest by 2.6% during the 2nd quarter. Hanseatic Management Services Inc. now owns 12,127 shares of the transportation company’s stock worth $995,000 after purchasing an additional 304 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in SkyWest by 22.2% during the 4th quarter. Quadrant Capital Group LLC now owns 2,101 shares of the transportation company’s stock worth $110,000 after buying an additional 381 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

Analysts Set New Price Targets

Separately, TD Cowen increased their price target on SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.

SkyWest Price Performance

Shares of NASDAQ SKYW opened at $78.26 on Monday. The company has a market capitalization of $3.15 billion, a PE ratio of 28.25 and a beta of 1.95. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. SkyWest, Inc. has a twelve month low of $36.91 and a twelve month high of $87.86. The firm has a fifty day simple moving average of $77.37 and a 200 day simple moving average of $74.76.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, July 25th. The transportation company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.09. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. The firm had revenue of $867.10 million during the quarter, compared to analyst estimates of $826.56 million. During the same period last year, the company posted $0.35 EPS. The business’s quarterly revenue was up 19.5% on a year-over-year basis. On average, sell-side analysts forecast that SkyWest, Inc. will post 6.88 EPS for the current year.

SkyWest Profile

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.