Point72 Asia Singapore Pte. Ltd. Purchases New Shares in SkyWest, Inc. (NASDAQ:SKYW)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,857 shares of the transportation company’s stock, valued at approximately $158,000.

A number of other institutional investors have also made changes to their positions in SKYW. Price T Rowe Associates Inc. MD raised its holdings in shares of SkyWest by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,717 shares of the transportation company’s stock valued at $1,846,000 after buying an additional 1,559 shares during the last quarter. Cetera Investment Advisers acquired a new stake in SkyWest in the first quarter worth about $1,853,000. GAMMA Investing LLC increased its position in SkyWest by 45.9% in the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock worth $76,000 after purchasing an additional 292 shares during the period. CWM LLC increased its position in SkyWest by 57.3% in the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after purchasing an additional 279 shares during the period. Finally, QRG Capital Management Inc. increased its position in SkyWest by 5.8% in the second quarter. QRG Capital Management Inc. now owns 14,306 shares of the transportation company’s stock worth $1,174,000 after purchasing an additional 788 shares during the period. 81.30% of the stock is owned by institutional investors.

Insider Buying and Selling at SkyWest

In other SkyWest news, CEO Russell A. Childs sold 27,903 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total value of $3,110,347.41. Following the sale, the chief executive officer now owns 349,548 shares in the company, valued at approximately $38,964,115.56. The trade was a 7.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction that occurred on 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 $10,202,889.92. The trade was a 16.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,467 shares of company stock worth $10,082,596. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

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

SkyWest Price Performance

SkyWest stock opened at $113.33 on Thursday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 19.37 and a beta of 1.96. SkyWest, Inc. has a 1 year low of $47.32 and a 1 year high of $117.51. The business has a 50-day moving average of $100.38 and a 200-day moving average of $85.86. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

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

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.