QRG Capital Management Inc. Trims Stock Holdings in SkyWest, Inc. $SKYW

QRG Capital Management Inc. lowered its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 61.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,591 shares of the transportation company’s stock after selling 12,037 shares during the period. QRG Capital Management Inc.’s holdings in SkyWest were worth $764,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SKYW. Salomon & Ludwin LLC purchased a new position in SkyWest in the 3rd quarter valued at approximately $38,000. Elevation Point Wealth Partners LLC purchased a new position in shares of SkyWest in the second quarter valued at $40,000. Fifth Third Bancorp raised its stake in shares of SkyWest by 38.4% during the 2nd quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 153 shares during the period. Blue Trust Inc. raised its stake in shares of SkyWest by 478.6% during the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 469 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on SKYW. Cantor Fitzgerald set a $132.00 target price on SkyWest in a report on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a research report on Wednesday, October 8th. Wall Street Zen cut shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Raymond James Financial raised shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, SkyWest currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.17.

SkyWest Trading Up 4.3%

Shares of SkyWest stock opened at $101.97 on Thursday. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $135.57. The firm has a market cap of $4.09 billion, a PE ratio of 9.73, a PEG ratio of 0.67 and a beta of 1.66. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.61. The company has a 50 day simple moving average of $100.56 and a two-hundred day simple moving average of $105.32.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.25. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. SkyWest had a net margin of 10.92% and a return on equity of 17.14%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. Analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SkyWest news, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $106.54, for a total transaction of $503,401.50. Following the sale, the director owned 25,362 shares in the company, valued at $2,702,067.48. This trade represents a 15.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

SkyWest Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.