Great West Life Assurance Co. Can trimmed its stake in SkyWest, Inc. (NASDAQ:SKYW) by 4.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,677 shares of the transportation company’s stock after selling 2,833 shares during the quarter. Great West Life Assurance Co. Can owned 0.12% of SkyWest worth $3,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan bought a new position in SkyWest during the fourth quarter valued at approximately $947,000. 6 Meridian bought a new position in SkyWest during the first quarter valued at approximately $230,000. Virtu Financial LLC bought a new position in shares of SkyWest in the first quarter valued at approximately $305,000. Cooper Haims Advisors LLC bought a new position in shares of SkyWest in the first quarter valued at approximately $271,000. Finally, Piedmont Investment Advisors Inc. raised its position in shares of SkyWest by 3.0% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 12,373 shares of the transportation company’s stock valued at $550,000 after purchasing an additional 356 shares during the period. 90.41% of the stock is owned by institutional investors and hedge funds.
SKYW traded up $0.87 during trading on Wednesday, reaching $56.94. 174,005 shares of the company’s stock were exchanged, compared to its average volume of 243,892. SkyWest, Inc. has a fifty-two week low of $42.38 and a fifty-two week high of $65.80. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.83 and a quick ratio of 0.71. The firm has a 50 day moving average of $59.50. The company has a market cap of $2.92 billion, a P/E ratio of 10.74 and a beta of 1.73.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, April 25th. The transportation company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.18. SkyWest had a net margin of 9.94% and a return on equity of 15.23%. The firm had revenue of $723.69 million for the quarter, compared to the consensus estimate of $693.32 million. During the same quarter in the previous year, the company earned $1.03 earnings per share. The business’s revenue was down 7.6% compared to the same quarter last year. Sell-side analysts anticipate that SkyWest, Inc. will post 6.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.84%. SkyWest’s dividend payout ratio is currently 9.06%.
In related news, Director Jerry C. Atkin sold 30,000 shares of SkyWest stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $60.62, for a total value of $1,818,600.00. Following the completion of the transaction, the director now directly owns 656,232 shares of the company’s stock, valued at $39,780,783.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wade J. Steel sold 11,000 shares of SkyWest stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $60.78, for a total value of $668,580.00. The disclosure for this sale can be found here. Insiders have sold 160,389 shares of company stock worth $9,763,340 in the last quarter. Corporate insiders own 3.60% of the company’s stock.
A number of research firms have recently commented on SKYW. BidaskClub lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. ValuEngine raised shares of SkyWest from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Stifel Nicolaus began coverage on shares of SkyWest in a research report on Monday, April 15th. They issued a “buy” rating and a $68.00 price target on the stock. Finally, Imperial Capital restated an “outperform” rating and issued a $74.00 price objective (up previously from $69.00) on shares of SkyWest in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.75.
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.
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