Seven Eight Capital LP Acquires Shares of 17,178 SkyWest, Inc. (NASDAQ:SKYW)

Seven Eight Capital LP bought a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 17,178 shares of the transportation company’s stock, valued at approximately $1,410,000.

A number of other institutional investors have also made changes to their positions in the business. Quest Partners LLC bought a new position in SkyWest during the fourth quarter worth $26,000. Kings Path Partners LLC bought a new stake in shares of SkyWest during the 2nd quarter worth about $42,000. Transcendent Capital Group LLC acquired a new position in SkyWest in the 4th quarter valued at about $52,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in SkyWest in the 2nd quarter valued at about $54,000. Finally, CWM LLC raised its holdings in SkyWest by 57.3% in the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock valued at $63,000 after acquiring an additional 279 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SkyWest Trading Up 1.3 %

SKYW stock opened at $81.02 on Friday. SkyWest, Inc. has a 52 week low of $36.91 and a 52 week high of $87.86. The company has a market capitalization of $3.25 billion, a PE ratio of 29.25 and a beta of 1.95. The company’s 50-day simple moving average is $77.06 and its 200 day simple moving average is $75.04. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.74 and a current ratio of 0.84.

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

About SkyWest

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.