44,936 Shares in SkyWest, Inc. $SKYW Acquired by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC purchased a new position in SkyWest, Inc. (NASDAQ:SKYW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 44,936 shares of the transportation company’s stock, valued at approximately $4,463,000. Susquehanna Fundamental Investments LLC owned about 0.12% of SkyWest as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC lifted its position in shares of SkyWest by 22.7% during the 2nd quarter. Hsbc Holdings PLC now owns 22,581 shares of the transportation company’s stock valued at $2,252,000 after acquiring an additional 4,183 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of SkyWest in the 2nd quarter worth $1,127,000. Capstone Investment Advisors LLC acquired a new position in shares of SkyWest in the 2nd quarter worth $266,000. Transamerica Financial Advisors LLC acquired a new stake in shares of SkyWest during the second quarter worth $117,000. Finally, Corient Private Wealth LP purchased a new stake in shares of SkyWest during the second quarter valued at $241,000. Institutional investors own 81.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings upgraded SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. The Goldman Sachs Group lowered shares of SkyWest from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $126.00 to $115.00 in a research note on Thursday, July 2nd. Citigroup increased their target price on SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, TD Cowen raised their target price on SkyWest from $115.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.00.

Insider Transactions at SkyWest

In other SkyWest news, CEO Russell A. Childs sold 50,500 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $113.21, for a total value of $5,717,105.00. Following the transaction, the chief executive officer owned 346,190 shares in the company, valued at $39,192,169.90. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Greg Wooley sold 17,726 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $108.55, for a total value of $1,924,157.30. Following the completion of the transaction, the vice president directly owned 53,323 shares in the company, valued at approximately $5,788,211.65. The trade was a 24.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,226 shares of company stock valued at $12,855,192 in the last three months. 1.50% of the stock is currently owned by insiders.

SkyWest Stock Performance

Shares of SKYW opened at $94.66 on Tuesday. The company has a market capitalization of $3.68 billion, a PE ratio of 9.41, a PEG ratio of 1.43 and a beta of 1.45. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.46 and a current ratio of 0.57. The company’s 50 day moving average price is $102.40 and its 200 day moving average price is $95.46. SkyWest, Inc. has a 52 week low of $77.89 and a 52 week high of $123.67.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 23rd. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.16). SkyWest had a return on equity of 14.58% and a net margin of 9.78%.The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company earned $2.91 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts expect that SkyWest, Inc. will post 10.64 EPS for the current fiscal year.

SkyWest announced that its Board of Directors has approved a stock buyback plan on Thursday, July 23rd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the transportation company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

SkyWest Company 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.