Handelsbanken Fonder AB Raises Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Handelsbanken Fonder AB lifted its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 2.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,800 shares of the transportation company’s stock after acquiring an additional 200 shares during the period. Handelsbanken Fonder AB’s holdings in SkyWest were worth $781,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of SkyWest during the third quarter worth about $31,000. Sound Income Strategies LLC purchased a new stake in shares of SkyWest during the fourth quarter worth about $50,000. USA Financial Formulas grew its stake in shares of SkyWest by 63.7% during the fourth quarter. USA Financial Formulas now owns 1,180 shares of the transportation company’s stock worth $118,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of SkyWest by 14.4% during the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the transportation company’s stock worth $156,000 after acquiring an additional 196 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in SkyWest in the third quarter valued at approximately $158,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Trading Up 1.0 %

Shares of NASDAQ:SKYW opened at $98.91 on Friday. SkyWest, Inc. has a 12-month low of $61.60 and a 12-month high of $135.57. The company has a market capitalization of $3.99 billion, a PE ratio of 12.73 and a beta of 1.98. The business has a 50 day moving average of $108.23 and a two-hundred day moving average of $98.07. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SKYW. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a research report on Friday, November 15th. TD Cowen upped their target price on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Raymond James reiterated an “outperform” rating and issued a $130.00 target price (up previously from $120.00) on shares of SkyWest in a research report on Friday, January 31st.

Insider Buying and Selling at SkyWest

In other news, VP Greg Wooley sold 14,545 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the completion of the transaction, the vice president now directly owns 68,737 shares of the company’s stock, valued at $7,267,563.01. This represents a 17.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert J. Simmons sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $113.57, for a total value of $681,420.00. Following the transaction, the chief financial officer now directly owns 175,067 shares of the company’s stock, valued at approximately $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.