Wilmington Savings Fund Society FSB Makes New Investment in SkyWest, Inc. (NASDAQ:SKYW)

Wilmington Savings Fund Society FSB acquired a new stake in SkyWest, Inc. (NASDAQ:SKYW) during the third quarter, Holdings Channel reports. The institutional investor acquired 363 shares of the transportation company’s stock, valued at approximately $31,000.

Other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of SkyWest by 90.2% in the 2nd 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 period. American Century Companies Inc. lifted its holdings in SkyWest by 16.8% in the second quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock valued at $94,510,000 after acquiring an additional 165,670 shares during the period. FMR LLC boosted its position in SkyWest by 42.2% in the 3rd quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock worth $41,162,000 after purchasing an additional 143,661 shares in the last quarter. Barclays PLC grew its stake in shares of SkyWest by 563.8% during the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock worth $13,002,000 after purchasing an additional 129,901 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of SkyWest by 27.7% during the 2nd quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after purchasing an additional 96,830 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SkyWest

In other SkyWest news, insider Wade J. Steel sold 19,079 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total value of $1,993,373.92. Following the completion of the sale, the insider now owns 97,654 shares in the company, valued at approximately $10,202,889.92. This represents a 16.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert J. Simmons sold 16,485 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $105.02, for a total value of $1,731,254.70. Following the transaction, the chief financial officer now owns 113,539 shares in the company, valued at approximately $11,923,865.78. This represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,467 shares of company stock valued at $10,082,596. 2.00% of the stock is owned by insiders.

SkyWest Stock Up 0.4 %

SKYW stock opened at $102.17 on Tuesday. The stock has a market capitalization of $4.12 billion, a P/E ratio of 17.46 and a beta of 1.96. SkyWest, Inc. has a 52 week low of $48.28 and a 52 week high of $117.51. The firm has a 50-day simple moving average of $105.40 and a 200-day simple moving average of $88.69. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.92 by $0.24. The company had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. SkyWest’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 EPS. Equities analysts forecast that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SKYW. Raymond James raised their price target on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Cowen lifted their price target on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

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.