Tidal Investments LLC Takes Position in SkyWest, Inc. (NASDAQ:SKYW)

Tidal Investments LLC purchased a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,617 shares of the transportation company’s stock, valued at approximately $648,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in SkyWest in the third quarter worth approximately $31,000. NBC Securities Inc. lifted its stake in 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 acquiring an additional 342 shares during the last quarter. Kings Path Partners LLC purchased a new stake in SkyWest during the 2nd quarter worth about $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in SkyWest during the second quarter worth approximately $54,000. Finally, GAMMA Investing LLC boosted its holdings in shares of SkyWest by 47.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock valued at $116,000 after buying an additional 437 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SKYW has been the topic of several analyst reports. TD Cowen lifted their target price on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. 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. Finally, Raymond James lifted their price objective on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, SkyWest currently has an average rating of “Moderate Buy” and an average price target of $105.75.

Insider Transactions at SkyWest

In related news, CEO Russell A. Childs sold 27,903 shares of SkyWest 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 completion of the transaction, the chief executive officer now directly owns 349,548 shares of the company’s stock, valued at $38,964,115.56. The trade was a 7.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wade J. Steel sold 19,079 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 97,654 shares in the company, valued at $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,467 shares of company stock valued at $10,082,596. Company insiders own 2.00% of the company’s stock.

SkyWest Stock Down 0.6 %

SKYW stock opened at $101.80 on Friday. The company has a 50 day moving average of $105.22 and a two-hundred day moving average of $88.47. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 17.40 and a beta of 1.96. SkyWest, Inc. has a 12-month low of $48.28 and a 12-month high of $117.51. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95.

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