Envestnet Portfolio Solutions Inc. Increases Stake in SkyWest, Inc. (NASDAQ:SKYW)

Envestnet Portfolio Solutions Inc. grew its position in SkyWest, Inc. (NASDAQ:SKYW) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,098 shares of the transportation company’s stock after acquiring an additional 352 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in SkyWest were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SKYW. JPMorgan Chase & Co. lifted its position in SkyWest by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 357,510 shares of the transportation company’s stock valued at $30,396,000 after purchasing an additional 11,169 shares during the period. Barclays PLC lifted its holdings in shares of SkyWest by 563.8% in the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock valued at $13,002,000 after buying an additional 129,901 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of SkyWest by 104.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,549 shares of the transportation company’s stock valued at $1,917,000 after buying an additional 11,494 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of SkyWest by 12.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock valued at $58,051,000 after buying an additional 76,007 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in SkyWest during the fourth quarter worth $242,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Price Performance

Shares of NASDAQ:SKYW opened at $90.65 on Friday. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 11.67 and a beta of 2.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. The business’s 50 day simple moving average is $102.08 and its 200-day simple moving average is $100.18. SkyWest, Inc. has a 12 month low of $64.61 and a 12 month high of $135.57.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same quarter in the prior year, the business earned $0.42 EPS. As a group, equities analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert J. Simmons sold 6,000 shares of SkyWest stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $113.57, for a total transaction of $681,420.00. Following the completion of the transaction, the chief financial officer now directly owns 175,067 shares in the company, valued at $19,882,359.19. The trade was a 3.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Greg Wooley sold 14,545 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total value of $1,537,842.85. Following the completion of the sale, the vice president now directly owns 68,737 shares in the company, valued at approximately $7,267,563.01. The trade was a 17.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James restated an “outperform” rating and set a $130.00 target price (up from $120.00) on shares of SkyWest in a research report on Friday, January 31st.

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.