Glenmede Trust Co. NA Boosts Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Glenmede Trust Co. NA increased its position in SkyWest, Inc. (NASDAQ:SKYW) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,835 shares of the transportation company’s stock after acquiring an additional 98 shares during the period. Glenmede Trust Co. NA’s holdings in SkyWest were worth $921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. NBC Securities Inc. raised its stake in shares of SkyWest by 1,368.0% in the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after purchasing an additional 342 shares during the last quarter. Kings Path Partners LLC bought a new position in SkyWest during the 2nd quarter valued at about $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of SkyWest during the 2nd quarter valued at about $54,000. 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 acquiring an additional 279 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of SkyWest by 45.9% during 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 last quarter. 81.30% of the stock is owned by institutional investors.

SkyWest Stock Down 0.3 %

Shares of SKYW stock opened at $114.43 on Tuesday. The company has a 50 day simple moving average of $99.19 and a two-hundred day simple moving average of $85.41. The stock has a market cap of $4.61 billion, a P/E ratio of 19.56 and a beta of 1.93. SkyWest, Inc. has a 12 month low of $47.32 and a 12 month high of $117.51. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.92 by $0.24. The firm had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. SkyWest’s revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS. On average, research analysts expect that SkyWest, Inc. will post 7.16 earnings per share for the current year.

Insider Transactions at SkyWest

In related news, CFO Robert J. Simmons sold 16,485 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total value of $1,731,254.70. Following the completion of the transaction, the chief financial officer now owns 113,539 shares of the company’s stock, valued at approximately $11,923,865.78. This represents a 12.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Wade J. Steel sold 19,079 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total value of $1,993,373.92. Following the sale, the insider now directly owns 97,654 shares in the company, valued at approximately $10,202,889.92. This represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,467 shares of company stock valued at $10,082,596 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

SkyWest Company 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.