Maverick Capital Ltd. Acquires New Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Maverick Capital Ltd. bought a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,695 shares of the transportation company’s stock, valued at approximately $1,124,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Campbell & CO Investment Adviser LLC increased its holdings in shares of SkyWest by 306.3% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,409 shares of the transportation company’s stock worth $1,274,000 after purchasing an additional 18,401 shares during the period. UniSuper Management Pty Ltd bought a new position in SkyWest in the 1st quarter worth about $520,000. Boston Partners purchased a new stake in shares of SkyWest in the 1st quarter valued at about $1,275,000. Janney Montgomery Scott LLC bought a new stake in shares of SkyWest during the 1st quarter valued at about $1,448,000. Finally, Nicholas Investment Partners LP grew its holdings in shares of SkyWest by 82.9% during the second quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock worth $15,451,000 after purchasing an additional 85,356 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Trading Up 0.5 %

Shares of SKYW stock opened at $84.28 on Friday. The business has a 50-day moving average price of $76.89 and a two-hundred day moving average price of $75.59. SkyWest, Inc. has a 12-month low of $36.91 and a 12-month high of $87.86. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. The firm has a market cap of $3.38 billion, a P/E ratio of 30.43 and a beta of 1.95.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, July 25th. The transportation company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.09. The business had revenue of $867.10 million during the quarter, compared to analyst estimates of $826.56 million. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. SkyWest’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Equities analysts anticipate that SkyWest, Inc. will post 6.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, TD Cowen raised their target price on shares of SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.

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.