UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.61 Million Position in SkyWest, Inc. (NASDAQ:SKYW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SkyWest, Inc. (NASDAQ:SKYW) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,057 shares of the transportation company’s stock after acquiring an additional 193 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SkyWest were worth $1,608,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SKYW. New Age Alpha Advisors LLC bought a new stake in shares of SkyWest during the fourth quarter worth $39,000. Headlands Technologies LLC acquired a new position in shares of SkyWest during the 4th quarter worth about $45,000. Private Trust Co. NA boosted its stake in shares of SkyWest by 157.1% during the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company’s stock worth $49,000 after buying an additional 300 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of SkyWest by 117.2% in the 4th quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company’s stock valued at $83,000 after acquiring an additional 449 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of SkyWest by 193.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company’s stock valued at $87,000 after acquiring an additional 569 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SkyWest

In other SkyWest news, insider Wade J. Steel sold 15,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $101.02, for a total value of $1,515,300.00. Following the completion of the transaction, the insider now directly owns 119,416 shares in the company, valued at approximately $12,063,404.32. This trade represents a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Russell A. Childs sold 17,000 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $100.91, for a total value of $1,715,470.00. Following the sale, the chief executive officer now owns 449,242 shares in the company, valued at approximately $45,333,010.22. This trade represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,000 shares of company stock valued at $4,994,520 over the last three months. 2.00% of the stock is owned by insiders.

SkyWest Stock Up 2.4%

Shares of SKYW opened at $103.26 on Monday. The firm has a market cap of $4.18 billion, a P/E ratio of 13.29 and a beta of 1.90. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. SkyWest, Inc. has a 52 week low of $64.61 and a 52 week high of $135.57. The firm’s 50-day simple moving average is $93.34 and its 200 day simple moving average is $100.23.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.38. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. The firm had revenue of $948.46 million for the quarter, compared to analyst estimates of $946.13 million. During the same quarter in the prior year, the business posted $1.45 EPS. The business’s revenue was up 18.0% compared to the same quarter last year. On average, analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current year.

SkyWest announced that its board has approved a stock repurchase program on Wednesday, May 7th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the transportation company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages recently commented on SKYW. The Goldman Sachs Group raised SkyWest from a “neutral” rating to a “buy” rating and reduced their price target for the company from $119.00 to $117.00 in a research report on Tuesday, April 8th. Raymond James cut their price objective on SkyWest from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Finally, Wall Street Zen raised shares of SkyWest from a “hold” rating to a “buy” rating in a research note on Friday, May 16th.

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.