Thrivent Financial for Lutherans Lowers Stake in SkyWest, Inc. (NASDAQ:SKYW)

Thrivent Financial for Lutherans lessened its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 2.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,893 shares of the transportation company’s stock after selling 1,928 shares during the quarter. Thrivent Financial for Lutherans owned about 0.24% of SkyWest worth $8,153,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. boosted its stake in SkyWest by 2.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock worth $184,855,000 after purchasing an additional 51,180 shares in the last quarter. American Century Companies Inc. raised its holdings in SkyWest by 16.8% in the second quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock worth $94,510,000 after buying an additional 165,670 shares during the last quarter. SW Investment Management LLC lifted its stake in shares of SkyWest by 13.2% in the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock worth $49,242,000 after buying an additional 70,000 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of SkyWest by 90.2% during the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after buying an additional 261,349 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of SkyWest by 27.7% during the second quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after acquiring an additional 96,830 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

SkyWest Stock Up 2.1 %

SKYW opened at $111.90 on Friday. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 18.78 and a beta of 1.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. The firm’s fifty day moving average is $94.46 and its 200 day moving average is $83.49. SkyWest, Inc. has a fifty-two week low of $45.42 and a fifty-two week high of $116.47.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. The business had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The company’s revenue was up 19.1% on a year-over-year basis. During the same period last year, the firm posted $0.55 EPS. On average, sell-side analysts forecast that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SKYW. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $119.00 price target on shares of SkyWest in a report on Friday, November 15th. TD Cowen raised their price target on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Raymond James lifted their price target on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, SkyWest presently has an average rating of “Moderate Buy” and a consensus price target of $105.75.

Insider Activity

In other SkyWest news, CFO Robert J. Simmons sold 16,485 shares of SkyWest stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total transaction of $1,731,254.70. Following the completion of the transaction, the chief financial officer now directly owns 113,539 shares of the company’s stock, valued at $11,923,865.78. The trade was a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Eric Woodward sold 4,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $446,120.00. Following the completion of the sale, the chief accounting officer now directly owns 44,426 shares in the company, valued at $4,954,831.78. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,467 shares of company stock worth $10,082,596. 2.00% of the stock is currently owned by corporate insiders.

SkyWest Company 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.