Amalgamated Bank Trims Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

Amalgamated Bank trimmed its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,310 shares of the transportation company’s stock after selling 522 shares during the quarter. Amalgamated Bank’s holdings in SkyWest were worth $1,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV lifted its stake in shares of SkyWest by 9.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,304 shares of the transportation company’s stock valued at $682,000 after purchasing an additional 694 shares during the period. Renaissance Technologies LLC boosted its stake in shares of SkyWest by 29.0% during the 2nd quarter. Renaissance Technologies LLC now owns 233,627 shares of the transportation company’s stock worth $19,174,000 after acquiring an additional 52,559 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of SkyWest by 169.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 49,378 shares of the transportation company’s stock valued at $4,052,000 after acquiring an additional 31,022 shares during the period. Nicholas Investment Partners LP grew its position in shares of 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 acquiring an additional 85,356 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of SkyWest in the 2nd quarter valued at about $1,044,000. 81.30% of the stock is owned by institutional investors and hedge funds.

SkyWest Trading Up 0.5 %

Shares of SkyWest stock opened at $84.28 on Friday. 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 twelve month low of $36.91 and a twelve month high of $87.86. The firm has a market capitalization of $3.38 billion, a PE ratio of 30.43 and a beta of 1.95. The firm’s 50-day moving average price is $76.89 and its 200 day moving average price is $75.59.

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

Analyst Upgrades and Downgrades

Separately, TD Cowen raised their price objective on SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.67.

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.