State of Alaska Department of Revenue Has $1.95 Million Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

State of Alaska Department of Revenue decreased its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,892 shares of the transportation company’s stock after selling 745 shares during the quarter. State of Alaska Department of Revenue’s holdings in SkyWest were worth $1,946,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in SkyWest in the 3rd quarter valued at $226,000. Highland Capital Management LLC bought a new position in SkyWest during the third quarter worth $223,000. International Assets Investment Management LLC increased its holdings in shares of SkyWest by 8,402.9% in the third quarter. International Assets Investment Management LLC now owns 2,891 shares of the transportation company’s stock valued at $246,000 after purchasing an additional 2,857 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of SkyWest by 20.2% in the third quarter. Sequoia Financial Advisors LLC now owns 4,558 shares of the transportation company’s stock valued at $388,000 after purchasing an additional 767 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in SkyWest by 658.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,073 shares of the transportation company’s stock worth $431,000 after acquiring an additional 4,404 shares during the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Raymond James boosted their price target on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.00.

SkyWest Trading Up 6.4 %

Shares of SKYW stock opened at $101.33 on Friday. The stock has a 50 day simple moving average of $84.34 and a 200 day simple moving average of $79.55. SkyWest, Inc. has a 1 year low of $41.96 and a 1 year high of $103.49. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.02. The stock has a market cap of $4.06 billion, a P/E ratio of 23.90 and a beta of 1.95.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The firm had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a net margin of 5.55% and a return on equity of 8.18%. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, research analysts predict that SkyWest, Inc. will post 6.88 earnings per share for the current fiscal 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.