Bridgewater Associates LP Grows Position in SkyWest, Inc. (NASDAQ:SKYW)

Bridgewater Associates LP increased its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 78.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,501 shares of the transportation company’s stock after buying an additional 6,802 shares during the period. Bridgewater Associates LP’s holdings in SkyWest were worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. lifted its position in shares of SkyWest by 1,368.0% during the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after buying an additional 342 shares in the last quarter. Kings Path Partners LLC purchased a new position in SkyWest in the 2nd quarter valued at $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SkyWest in the 2nd quarter valued at $54,000. CWM LLC lifted 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 purchasing an additional 279 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in SkyWest by 45.9% in the 2nd quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Up 0.7 %

Shares of NASDAQ:SKYW opened at $114.74 on Monday. The business has a 50-day moving average price of $98.54 and a 200 day moving average price of $85.15. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 19.61 and a beta of 1.93. SkyWest, Inc. has a 12-month low of $45.99 and a 12-month high of $117.51.

SkyWest (NASDAQ:SKYW) last issued 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 during the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS. Sell-side analysts expect that SkyWest, Inc. will post 7.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen raised their price objective on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a research note on Friday, November 15th. Finally, Raymond James raised their target price on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

Insider Transactions at SkyWest

In other news, CAO Eric Woodward sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $446,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 44,426 shares of the company’s stock, valued at approximately $4,954,831.78. The trade was a 8.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Russell A. Childs sold 27,903 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total value of $3,110,347.41. Following the transaction, the chief executive officer now directly owns 349,548 shares of the company’s stock, valued at approximately $38,964,115.56. This represents a 7.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,467 shares of company stock valued at $10,082,596. 2.00% of the stock is currently owned by corporate insiders.

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.