Pacer Advisors Inc. Boosts Stake in SkyWest, Inc. (NASDAQ:SKYW)

Pacer Advisors Inc. grew its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,252,410 shares of the transportation company’s stock after purchasing an additional 51,180 shares during the period. Pacer Advisors Inc. owned approximately 5.59% of SkyWest worth $184,855,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Quest Partners LLC acquired a new position in SkyWest in the fourth quarter valued at about $26,000. Kings Path Partners LLC acquired a new position in shares of SkyWest in the 2nd quarter worth approximately $42,000. Transcendent Capital Group LLC purchased a new position in shares of SkyWest during the 4th quarter worth approximately $52,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of SkyWest during the 2nd quarter worth approximately $54,000. Finally, CWM LLC increased its holdings in SkyWest by 57.3% in the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock valued at $63,000 after purchasing an additional 279 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, TD Cowen upped their price target on SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, SkyWest currently has an average rating of “Moderate Buy” and an average price target of $76.67.

SkyWest Stock Up 1.1 %

Shares of SKYW opened at $81.89 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.74 and a current ratio of 0.84. The stock has a market capitalization of $3.30 billion, a PE ratio of 29.56 and a beta of 1.95. The company’s 50-day simple moving average is $77.03 and its 200-day simple moving average is $75.16. SkyWest, Inc. has a 1 year low of $36.91 and a 1 year high of $87.86.

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