Invst LLC Purchases New Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Invst LLC purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,885 shares of the transportation company’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Scientech Research LLC purchased a new position in SkyWest in the second quarter valued at about $334,000. The Manufacturers Life Insurance Company boosted its holdings in SkyWest by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company’s stock valued at $1,803,000 after purchasing an additional 214 shares during the last quarter. Millennium Management LLC boosted its holdings in SkyWest by 27.7% in the second quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after purchasing an additional 96,830 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in SkyWest during the second quarter valued at approximately $1,124,000. Finally, AQR Capital Management LLC raised its stake in SkyWest by 64.0% during the second quarter. AQR Capital Management LLC now owns 63,710 shares of the transportation company’s stock valued at $5,229,000 after buying an additional 24,874 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Trading Up 0.9 %

Shares of NASDAQ SKYW opened at $85.02 on Tuesday. The stock’s 50 day moving average price is $76.93 and its two-hundred day moving average price is $75.82. SkyWest, Inc. has a 52-week low of $36.91 and a 52-week high of $87.86. The stock has a market capitalization of $3.42 billion, a P/E ratio of 30.69 and a beta of 1.95. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.02.

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

Wall Street Analysts Forecast Growth

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

About SkyWest

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.