SkyWest, Inc. (NASDAQ:SKYW) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 379,563 shares of the transportation company’s stock after purchasing an additional 22,053 shares during the quarter. JPMorgan Chase & Co.’s holdings in SkyWest were worth $38,006,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Barclays PLC increased its position in SkyWest by 563.8% in the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock valued at $13,002,000 after acquiring an additional 129,901 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of SkyWest by 104.0% in the third quarter. BNP Paribas Financial Markets now owns 22,549 shares of the transportation company’s stock valued at $1,917,000 after purchasing an additional 11,494 shares during the period. Savant Capital LLC acquired a new position in shares of SkyWest in the fourth quarter valued at approximately $242,000. Tidal Investments LLC purchased a new stake in shares of SkyWest during the third quarter worth approximately $648,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of SkyWest by 193.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company’s stock worth $87,000 after purchasing an additional 569 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Trading Down 5.1 %

Shares of SKYW stock opened at $80.23 on Monday. The business’s fifty day moving average price is $98.92 and its 200 day moving average price is $100.90. The firm has a market capitalization of $3.26 billion, a PE ratio of 10.33 and a beta of 1.83. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. SkyWest, Inc. has a 1-year low of $64.61 and a 1-year high of $135.57.

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

Insider Activity

In other news, CFO Robert J. Simmons sold 6,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 175,067 shares in the company, valued at $19,882,359.19. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Greg Wooley sold 14,545 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 68,737 shares in the company, valued at $7,267,563.01. This represents a 17.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

SKYW has been the topic of several recent research reports. StockNews.com cut shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Thursday. Raymond James dropped their price target on shares of SkyWest from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd.

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.