VIRGINIA RETIREMENT SYSTEMS ET Al Invests $2.13 Million in SkyWest, Inc. $SKYW

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in SkyWest, Inc. (NASDAQ:SKYW) in the second quarter, HoldingsChannel reports. The firm bought 20,700 shares of the transportation company’s stock, valued at approximately $2,131,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of SkyWest by 38.4% in the 2nd quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock worth $57,000 after purchasing an additional 153 shares during the period. Blue Trust Inc. boosted its holdings in shares of SkyWest by 478.6% in the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock worth $58,000 after purchasing an additional 469 shares during the period. TD Private Client Wealth LLC purchased a new position in SkyWest during the 2nd quarter valued at $71,000. GAMMA Investing LLC boosted its holdings in SkyWest by 11.5% during the 1st quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company’s stock valued at $152,000 after acquiring an additional 180 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SkyWest by 32.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company’s stock valued at $169,000 after acquiring an additional 473 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Trading Up 0.3%

Shares of NASDAQ SKYW opened at $101.60 on Wednesday. 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 business has a fifty day simple moving average of $108.53 and a two-hundred day simple moving average of $103.33. The firm has a market cap of $4.10 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 1.00 and a beta of 1.86. SkyWest, Inc. has a twelve month low of $74.70 and a twelve month high of $135.57.

SkyWest (NASDAQ:SKYW) last issued its 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. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $979.95 million. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.SkyWest’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. Analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a report on Wednesday, October 8th. Evercore ISI boosted their price objective on SkyWest from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Finally, Zacks Research cut SkyWest from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $126.75.

Insider Buying and Selling at SkyWest

In other SkyWest news, CEO Russell A. Childs sold 26,000 shares of SkyWest stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $116.06, for a total transaction of $3,017,560.00. Following the completion of the sale, the chief executive officer directly owned 404,883 shares of the company’s stock, valued at $46,990,720.98. The trade was a 6.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James L. Welch sold 10,000 shares of SkyWest stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $116.09, for a total value of $1,160,900.00. Following the sale, the director directly owned 27,717 shares of the company’s stock, valued at approximately $3,217,666.53. This trade represents a 26.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,186 shares of company stock worth $10,440,398 over the last quarter. Insiders own 1.20% of the company’s stock.

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.