Fisher Asset Management LLC Takes Position in SkyWest, Inc. (NASDAQ:SKYW)

Fisher Asset Management LLC acquired a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,000 shares of the transportation company’s stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also bought and sold shares of SKYW. Invesco Ltd. grew its holdings in SkyWest by 40.6% during the third quarter. Invesco Ltd. now owns 923,722 shares of the transportation company’s stock valued at $38,741,000 after purchasing an additional 266,762 shares during the period. EP Wealth Advisors LLC grew its holdings in SkyWest by 5,203.4% during the third quarter. EP Wealth Advisors LLC now owns 256,631 shares of the transportation company’s stock valued at $10,763,000 after purchasing an additional 251,792 shares during the period. Clearbridge Investments LLC bought a new position in SkyWest during the fourth quarter valued at $12,773,000. Norges Bank bought a new position in SkyWest during the fourth quarter valued at $12,134,000. Finally, Goldman Sachs Group Inc. grew its holdings in SkyWest by 46.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 424,239 shares of the transportation company’s stock valued at $22,145,000 after purchasing an additional 134,066 shares during the period. 81.30% of the stock is owned by institutional investors.

SkyWest Trading Up 0.9 %

NASDAQ SKYW opened at $80.15 on Tuesday. The stock’s 50-day simple moving average is $75.58 and its two-hundred day simple moving average is $64.73. SkyWest, Inc. has a twelve month low of $36.91 and a twelve month high of $84.58. The company has a quick ratio of 0.72, a current ratio of 0.81 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 28.94 and a beta of 1.92.

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

Analyst Ratings Changes

Several research firms have issued reports on SKYW. Evercore ISI increased their target price on SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. TD Cowen increased their target price 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 issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $76.67.

Insider Activity

In other news, CAO Eric Woodward sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $80.56, for a total transaction of $402,800.00. Following the transaction, the chief accounting officer now directly owns 48,426 shares of the company’s stock, valued at $3,901,198.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Wade J. Steel sold 15,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $77.10, for a total value of $1,156,500.00. Following the sale, the insider now directly owns 116,733 shares of the company’s stock, valued at $9,000,114.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Eric Woodward sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $80.56, for a total value of $402,800.00. Following the completion of the sale, the chief accounting officer now directly owns 48,426 shares in the company, valued at $3,901,198.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,290 shares of company stock valued at $7,282,611. 2.00% of the stock is currently owned by insiders.

SkyWest 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.