Mutual of America Capital Management LLC Decreases Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Mutual of America Capital Management LLC reduced its position in SkyWest, Inc. (NASDAQ:SKYW) by 3.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,873 shares of the transportation company’s stock after selling 235 shares during the period. Mutual of America Capital Management LLC’s holdings in SkyWest were worth $513,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SKYW. Cubist Systematic Strategies LLC boosted its stake in SkyWest by 1,999.6% in the 4th quarter. Cubist Systematic Strategies LLC now owns 158,248 shares of the transportation company’s stock worth $15,845,000 after purchasing an additional 150,711 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of SkyWest by 9,644.5% during the first quarter. GAMMA Investing LLC now owns 152,111 shares of the transportation company’s stock worth $13,290,000 after purchasing an additional 150,550 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of SkyWest by 16.1% in the 4th quarter. Nuveen Asset Management LLC now owns 415,296 shares of the transportation company’s stock valued at $41,584,000 after buying an additional 57,547 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in SkyWest by 1,075.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 60,181 shares of the transportation company’s stock valued at $5,302,000 after acquiring an additional 55,062 shares during the period. Finally, Northern Trust Corp grew its stake in shares of SkyWest by 12.3% during the 4th quarter. Northern Trust Corp now owns 472,763 shares of the transportation company’s stock worth $47,338,000 after purchasing an additional 51,607 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on SKYW. Wall Street Zen upgraded SkyWest from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Raymond James Financial lifted their target price on shares of SkyWest from $128.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Finally, Evercore ISI raised their target price on shares of SkyWest from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $126.75.

Insider Buying and Selling

In other news, CAO Eric Woodward sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $116.67, for a total value of $816,690.00. Following the completion of the transaction, the chief accounting officer owned 47,810 shares of the company’s stock, valued at approximately $5,577,992.70. This trade represents a 12.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Russell A. Childs sold 17,000 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $100.91, for a total transaction of $1,715,470.00. Following the completion of the transaction, the chief executive officer owned 449,242 shares of the company’s stock, valued at approximately $45,333,010.22. This trade represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 100,186 shares of company stock worth $11,022,798 over the last 90 days. 1.20% of the stock is owned by insiders.

SkyWest Price Performance

SKYW stock opened at $109.60 on Tuesday. SkyWest, Inc. has a 52-week low of $71.86 and a 52-week high of $135.57. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.78. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 1.09 and a beta of 1.98. The business has a fifty day moving average of $106.65 and a two-hundred day moving average of $99.87.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.57. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $979.95 million. During the same period last year, the business earned $1.82 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. As a group, research analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

SkyWest announced that its Board of Directors has authorized 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 reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.