SkyWest, Inc. (NASDAQ:SKYW) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 5.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 88,605 shares of the transportation company’s stock after purchasing an additional 4,673 shares during the quarter. Public Sector Pension Investment Board’s holdings in SkyWest were worth $7,272,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in shares of SkyWest by 90.2% in the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after purchasing an additional 261,349 shares in the last quarter. Norges Bank acquired a new position in shares of SkyWest during the 4th quarter worth approximately $12,134,000. American Century Companies Inc. lifted its stake in SkyWest by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock valued at $94,510,000 after buying an additional 165,670 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in SkyWest by 46.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 424,239 shares of the transportation company’s stock valued at $22,145,000 after buying an additional 134,066 shares during the last quarter. Finally, Nicholas Investment Partners LP grew its holdings in SkyWest by 82.9% during the 2nd quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock valued at $15,451,000 after buying an additional 85,356 shares during the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, TD Cowen boosted their price target on SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.67.

SkyWest Stock Performance

NASDAQ:SKYW opened at $83.59 on Wednesday. SkyWest, Inc. has a 1-year low of $36.91 and a 1-year high of $87.86. The firm has a 50 day simple moving average of $76.90 and a 200-day simple moving average of $75.48. The firm has a market cap of $3.35 billion, a PE ratio of 30.18 and a beta of 1.95. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.74.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, July 25th. The transportation company reported $1.82 earnings per share for the quarter, beating 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 company had revenue of $867.10 million during the quarter, compared to the consensus estimate of $826.56 million. During the same period in the previous year, the firm posted $0.35 EPS. SkyWest’s revenue was up 19.5% on a year-over-year basis. On average, equities analysts expect that SkyWest, Inc. will post 6.88 EPS for the current year.

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.