Arizona State Retirement System bought a new stake in SkyWest, Inc. (NASDAQ:SKYW – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,815 shares of the transportation company’s stock, valued at approximately $231,000.
Several other institutional investors also recently added to or reduced their stakes in SKYW. Victory Capital Management Inc. raised its position in shares of SkyWest by 90.2% during the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after buying an additional 261,349 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in SkyWest by 46.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 424,239 shares of the transportation company’s stock valued at $22,145,000 after acquiring an additional 134,066 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of SkyWest by 1.4% in the 1st quarter. Bridgeway Capital Management LLC now owns 361,213 shares of the transportation company’s stock worth $24,953,000 after acquiring an additional 4,813 shares during the period. Clearbridge Investments LLC lifted its position in SkyWest by 2.4% in the first quarter. Clearbridge Investments LLC now owns 250,519 shares of the transportation company’s stock worth $17,306,000 after purchasing an additional 5,833 shares during the period. Finally, Par Capital Management Inc. lifted its position in SkyWest by 2.5% in the fourth quarter. Par Capital Management Inc. now owns 244,441 shares of the transportation company’s stock worth $12,760,000 after purchasing an additional 6,000 shares during the period. 81.30% of the stock is owned by institutional investors.
SkyWest Price Performance
Shares of NASDAQ SKYW opened at $80.01 on Thursday. The company has a fifty day moving average price of $77.11 and a 200 day moving average price of $75.00. The firm has a market cap of $3.22 billion, a PE ratio of 28.88 and a beta of 1.95. 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, Inc. has a 1-year low of $36.91 and a 1-year high of $87.86.
Analyst Upgrades and Downgrades
Separately, TD Cowen increased their price target on shares of SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.67.
Check Out Our Latest Report on SkyWest
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.
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