Versor Investments LP Makes New $726,000 Investment in SkyWest, Inc. $SKYW

Versor Investments LP purchased a new position in SkyWest, Inc. (NASDAQ:SKYW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,054 shares of the transportation company’s stock, valued at approximately $726,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Jennison Associates LLC increased its position in SkyWest by 11.6% in the second quarter. Jennison Associates LLC now owns 8,522 shares of the transportation company’s stock worth $878,000 after buying an additional 889 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in SkyWest during the second quarter valued at approximately $1,194,000. Ashton Thomas Private Wealth LLC bought a new position in SkyWest during the second quarter valued at approximately $206,000. Envestnet Asset Management Inc. boosted its stake in SkyWest by 16.1% during the second quarter. Envestnet Asset Management Inc. now owns 38,117 shares of the transportation company’s stock valued at $3,925,000 after buying an additional 5,277 shares during the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in SkyWest by 192.0% during the second quarter. First Citizens Bank & Trust Co. now owns 8,282 shares of the transportation company’s stock valued at $853,000 after buying an additional 5,446 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

Shares of SKYW opened at $100.55 on Tuesday. The stock has a 50-day moving average of $105.31 and a two-hundred day moving average of $104.51. SkyWest, Inc. has a one year low of $74.70 and a one year high of $135.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.73. The stock has a market cap of $4.06 billion, a P/E ratio of 10.23, a P/E/G ratio of 0.95 and a beta of 1.86.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, October 30th. The transportation company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.25. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 EPS. As a group, research analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Activity

In other news, VP Greg Wooley sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total value of $233,660.00. Following the completion of the transaction, the vice president owned 66,737 shares of the company’s stock, valued at $7,796,883.71. The trade was a 2.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James L. Welch sold 10,000 shares of SkyWest stock in a transaction dated 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 completion of the transaction, the director owned 27,717 shares of the company’s stock, valued at approximately $3,217,666.53. This represents a 26.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 38,000 shares of company stock valued at $4,412,120 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on SKYW. Zacks Research lowered SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. TD Cowen raised their price objective on SkyWest from $124.00 to $132.00 and gave the stock a “buy” rating in a report on Friday. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a report on Wednesday, October 8th. Evercore ISI lifted their price target on SkyWest from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Finally, Cowen reiterated a “buy” rating on shares of SkyWest in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $130.20.

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.