Geode Capital Management LLC Has $81.70 Million Stake in SkyWest, Inc. (NASDAQ:SKYW)

Geode Capital Management LLC increased its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 0.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 960,739 shares of the transportation company’s stock after buying an additional 6,542 shares during the period. Geode Capital Management LLC’s holdings in SkyWest were worth $81,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SKYW. Bailard Inc. boosted its position in shares of SkyWest by 8.5% during the 2nd quarter. Bailard Inc. now owns 8,900 shares of the transportation company’s stock valued at $730,000 after purchasing an additional 700 shares in the last quarter. Legato Capital Management LLC raised its holdings in shares of SkyWest by 42.4% during the second quarter. Legato Capital Management LLC now owns 18,895 shares of the transportation company’s stock valued at $1,551,000 after purchasing an additional 5,624 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of SkyWest during the 2nd quarter worth about $54,000. Innealta Capital LLC acquired a new stake in shares of SkyWest in the 2nd quarter valued at about $129,000. Finally, Forum Financial Management LP acquired a new position in SkyWest during the 2nd quarter worth approximately $219,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

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

SkyWest Trading Down 0.6 %

NASDAQ SKYW opened at $101.80 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $105.22 and a 200 day simple moving average of $88.40. SkyWest, Inc. has a 12 month low of $48.28 and a 12 month high of $117.51. The firm has a market capitalization of $4.11 billion, a P/E ratio of 17.40 and a beta of 1.96.

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

Insider Buying and Selling at SkyWest

In other news, CEO Russell A. Childs sold 27,903 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total value of $3,110,347.41. Following the completion of the transaction, the chief executive officer now directly owns 349,548 shares of the company’s stock, valued at $38,964,115.56. This represents a 7.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total value of $1,993,373.92. Following the sale, the insider now owns 97,654 shares in the company, valued at $10,202,889.92. This trade represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,467 shares of company stock worth $10,082,596. Insiders own 2.00% of the company’s stock.

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.