Wealth Enhancement Advisory Services LLC Invests $226,000 in SkyWest, Inc. (NASDAQ:SKYW)

Wealth Enhancement Advisory Services LLC purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,655 shares of the transportation company’s stock, valued at approximately $226,000.

A number of other institutional investors also recently bought and sold shares of SKYW. UniSuper Management Pty Ltd acquired a new stake in shares of SkyWest during the 1st quarter worth about $520,000. Boston Partners acquired a new stake in SkyWest during the first quarter worth approximately $1,275,000. Janney Montgomery Scott LLC acquired a new position in shares of SkyWest in the 1st quarter valued at $1,448,000. Nicholas Investment Partners LP boosted its holdings in shares of SkyWest by 82.9% in the 2nd quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock valued at $15,451,000 after buying an additional 85,356 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in SkyWest during the 2nd quarter worth $520,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Raymond James upped their price objective on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen increased their target price on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.33.

Insider Activity at SkyWest

In related news, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the transaction, the insider now directly owns 97,654 shares of the company’s stock, valued at approximately $10,202,889.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other SkyWest news, CEO Russell A. Childs sold 27,903 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the sale, the chief executive officer now owns 349,548 shares in the company, valued at approximately $38,964,115.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total value of $1,993,373.92. Following the completion of the transaction, the insider now directly owns 97,654 shares of the company’s stock, valued at approximately $10,202,889.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,467 shares of company stock worth $10,082,596 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

SkyWest Stock Performance

NASDAQ:SKYW opened at $114.16 on Tuesday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 19.55 and a beta of 1.93. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.74. SkyWest, Inc. has a 1-year low of $42.11 and a 1-year high of $116.47. The firm’s fifty day moving average price is $88.06 and its 200 day moving average price is $81.29.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results 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. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The business had revenue of $912.79 million for the quarter, compared to analyst estimates of $896.21 million. During the same period in the previous year, the business posted $0.55 earnings per share. The business’s revenue was up 19.1% compared to the same quarter last year. On average, sell-side analysts expect that SkyWest, Inc. will post 7.16 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.