Los Angeles Capital Management LLC Takes $540,000 Position in SkyWest, Inc. (NASDAQ:SKYW)

Los Angeles Capital Management LLC purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW) during the first quarter, HoldingsChannel reports. The institutional investor purchased 7,812 shares of the transportation company’s stock, valued at approximately $540,000.

A number of other institutional investors also recently modified their holdings of SKYW. PNC Financial Services Group Inc. raised its holdings in SkyWest by 8.0% during the third quarter. PNC Financial Services Group Inc. now owns 3,933 shares of the transportation company’s stock worth $165,000 after acquiring an additional 291 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in SkyWest by 22.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,101 shares of the transportation company’s stock worth $110,000 after acquiring an additional 381 shares in the last quarter. Quest Partners LLC bought a new stake in SkyWest during the fourth quarter worth about $26,000. GAMMA Investing LLC bought a new stake in SkyWest during the fourth quarter worth about $29,000. Finally, Nisa Investment Advisors LLC raised its holdings in SkyWest by 2.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 28,125 shares of the transportation company’s stock worth $1,468,000 after acquiring an additional 700 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on SKYW shares. Evercore ISI upped their target price on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. TD Cowen boosted their price target on SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.67.

Insider Activity

In other news, VP Greg Wooley sold 7,415 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.27, for a total value of $602,617.05. Following the transaction, the vice president now owns 59,058 shares of the company’s stock, valued at $4,799,643.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Wade J. Steel sold 15,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $77.10, for a total transaction of $1,156,500.00. Following the sale, the insider now owns 116,733 shares of the company’s stock, valued at $9,000,114.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Greg Wooley sold 7,415 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $81.27, for a total value of $602,617.05. Following the sale, the vice president now directly owns 59,058 shares in the company, valued at approximately $4,799,643.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,290 shares of company stock valued at $7,282,611. 2.50% of the stock is owned by insiders.

SkyWest Price Performance

Shares of NASDAQ SKYW opened at $81.23 on Wednesday. The business’s 50 day moving average price is $75.87 and its two-hundred day moving average price is $64.96. The company has a market cap of $3.27 billion, a PE ratio of 29.33 and a beta of 1.92. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.10. SkyWest, Inc. has a twelve month low of $36.91 and a twelve month high of $84.58.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, April 25th. The transportation company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.24 by $0.21. SkyWest had a return on equity of 5.45% and a net margin of 3.83%. The company had revenue of $804.00 million for the quarter, compared to the consensus estimate of $800.07 million. During the same quarter in the prior year, the business earned ($0.45) earnings per share. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, analysts predict that SkyWest, Inc. will post 6.83 EPS for the current year.

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.