Victory Capital Management Inc. Buys 261,349 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Victory Capital Management Inc. grew its stake in SkyWest, Inc. (NASDAQ:SKYW) by 90.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 551,060 shares of the transportation company’s stock after buying an additional 261,349 shares during the period. Victory Capital Management Inc.’s holdings in SkyWest were worth $45,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in SkyWest during the fourth quarter worth about $26,000. Kings Path Partners LLC acquired a new stake in shares of SkyWest during the 2nd quarter worth approximately $42,000. Transcendent Capital Group LLC acquired a new stake in shares of SkyWest during the 4th quarter worth approximately $52,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SkyWest during the second quarter valued at approximately $54,000. Finally, CWM LLC raised 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 valued at $63,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TD Cowen boosted their price target on shares of SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.67.

Insider Buying and Selling at SkyWest

In other news, Director James L. Welch sold 2,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $79.08, for a total value of $158,160.00. Following the sale, the director now owns 46,462 shares in the company, valued at approximately $3,674,214.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

SkyWest Stock Up 0.6 %

NASDAQ SKYW opened at $75.93 on Tuesday. SkyWest, Inc. has a 1-year low of $36.91 and a 1-year high of $87.86. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 27.41 and a beta of 1.95. The stock’s 50 day moving average is $78.02 and its two-hundred day moving average is $74.24. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.02.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, July 25th. The transportation company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.73 by $0.09. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. The business had revenue of $867.10 million during the quarter, compared to the consensus estimate of $826.56 million. During the same quarter last year, the company earned $0.35 EPS. SkyWest’s revenue was up 19.5% on a year-over-year basis. Equities analysts forecast that SkyWest, Inc. will post 6.88 earnings per share for the current fiscal year.

About SkyWest

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.