Bridgewater Associates LP Raises Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Bridgewater Associates LP raised its position in SkyWest, Inc. (NASDAQ:SKYW) by 78.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 15,501 shares of the transportation company’s stock after purchasing an additional 6,802 shares during the period. Bridgewater Associates LP’s holdings in SkyWest were worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. raised its stake in shares of SkyWest by 1,368.0% during the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after purchasing an additional 342 shares during the last quarter. Kings Path Partners LLC purchased a new stake in shares of SkyWest during the second quarter worth approximately $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of SkyWest during the second quarter worth approximately $54,000. CWM LLC raised its stake in shares of SkyWest by 57.3% during the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after purchasing an additional 279 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of SkyWest by 45.9% during the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock worth $76,000 after purchasing an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Up 0.7 %

SKYW opened at $114.74 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The firm has a market cap of $4.63 billion, a P/E ratio of 19.61 and a beta of 1.93. SkyWest, Inc. has a 52 week low of $45.99 and a 52 week high of $117.51. The business’s fifty day simple moving average is $98.54 and its 200 day simple moving average is $85.15.

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

Insider Transactions at SkyWest

In related news, insider Wade J. Steel sold 19,079 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the sale, the insider now directly owns 97,654 shares in the company, valued at approximately $10,202,889.92. This trade represents a 16.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Russell A. Childs sold 27,903 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total value of $3,110,347.41. Following the sale, the chief executive officer now owns 349,548 shares in the company, valued at approximately $38,964,115.56. The trade was a 7.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,467 shares of company stock worth $10,082,596 in the last three months. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.