Invesco Ltd. Raises Stake in SkyWest, Inc. (NASDAQ:SKYW)

Invesco Ltd. boosted its stake in SkyWest, Inc. (NASDAQ:SKYW) by 4.2% in the 4th quarter, Holdings Channel reports. The firm owned 543,009 shares of the transportation company’s stock after acquiring an additional 21,637 shares during the quarter. Invesco Ltd.’s holdings in SkyWest were worth $54,371,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised its position in shares of SkyWest by 563.8% in the third quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock worth $13,002,000 after buying an additional 129,901 shares in the last quarter. Geode Capital Management LLC increased its stake in SkyWest by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock worth $81,697,000 after acquiring an additional 6,542 shares during the last quarter. Invst LLC increased its stake in SkyWest by 39.1% in the 3rd quarter. Invst LLC now owns 5,405 shares of the transportation company’s stock worth $460,000 after acquiring an additional 1,520 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of SkyWest in the 3rd quarter valued at about $233,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of SkyWest during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insider Activity

In other news, VP Greg Wooley sold 14,545 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total value of $1,537,842.85. Following the transaction, the vice president now owns 68,737 shares in the company, valued at approximately $7,267,563.01. This trade represents a 17.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert J. Simmons sold 6,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the sale, the chief financial officer now owns 175,067 shares of the company’s stock, valued at $19,882,359.19. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday. Raymond James lowered their price objective on shares of SkyWest from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group upgraded shares of SkyWest from a “neutral” rating to a “buy” rating and cut their target price for the stock from $119.00 to $117.00 in a research report on Tuesday, April 8th.

SkyWest Stock Up 0.4 %

Shares of SKYW opened at $85.48 on Wednesday. SkyWest, Inc. has a 1 year low of $64.61 and a 1 year high of $135.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. The stock has a 50 day simple moving average of $93.06 and a two-hundred day simple moving average of $100.76. The firm has a market cap of $3.47 billion, a P/E ratio of 11.00 and a beta of 1.83.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data 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 net margin of 9.15% and a return on equity of 14.17%. During the same period in the previous year, the business posted $0.42 earnings per share. On average, analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

About SkyWest

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.