Empowered Funds LLC Boosts Stake in SkyWest, Inc. (NASDAQ:SKYW)

Empowered Funds LLC increased its stake in SkyWest, Inc. (NASDAQ:SKYW) by 0.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 173,254 shares of the transportation company’s stock after acquiring an additional 219 shares during the period. Empowered Funds LLC owned about 0.43% of SkyWest worth $14,730,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its holdings in shares of SkyWest by 1.9% in the second quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company’s stock worth $681,000 after buying an additional 152 shares during the period. Evergreen Capital Management LLC increased its stake in SkyWest by 3.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,660 shares of the transportation company’s stock worth $465,000 after purchasing an additional 213 shares during the period. The Manufacturers Life Insurance Company lifted its position in SkyWest by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company’s stock valued at $1,803,000 after purchasing an additional 214 shares during the last quarter. CWM LLC boosted its stake in shares of SkyWest by 57.3% during 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 during the period. Finally, GAMMA Investing LLC boosted its stake in shares of SkyWest by 45.9% during the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 292 shares during the period. Institutional investors own 81.30% of the company’s stock.

SkyWest Price Performance

NASDAQ SKYW opened at $112.28 on Friday. The company has a 50-day moving average price of $90.28 and a 200-day moving average price of $82.06. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $4.53 billion, a P/E ratio of 18.94 and a beta of 1.93. SkyWest, Inc. has a 52 week low of $44.71 and a 52 week high of $116.47.

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

Insider Activity

In other SkyWest news, CAO Eric Woodward sold 4,000 shares of SkyWest stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 44,426 shares of the company’s stock, valued at $4,954,831.78. This trade represents a 8.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Russell A. Childs sold 27,903 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the sale, the chief executive officer now owns 349,548 shares in the company, valued at $38,964,115.56. This represents a 7.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,467 shares of company stock worth $10,082,596 over the last quarter. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

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

SkyWest 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.