Allspring Global Investments Holdings LLC Buys 4,404 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Allspring Global Investments Holdings LLC lifted its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 658.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,073 shares of the transportation company’s stock after acquiring an additional 4,404 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SkyWest were worth $431,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SKYW. Pacer Advisors Inc. boosted its stake in SkyWest by 2.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock worth $184,855,000 after purchasing an additional 51,180 shares during the period. American Century Companies Inc. boosted its stake in SkyWest by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock worth $94,510,000 after purchasing an additional 165,670 shares during the period. SW Investment Management LLC boosted its stake in SkyWest by 13.2% in the 2nd quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock worth $49,242,000 after purchasing an additional 70,000 shares during the period. Victory Capital Management Inc. boosted its stake in SkyWest by 90.2% in the 2nd quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock worth $45,225,000 after purchasing an additional 261,349 shares during the period. Finally, Millennium Management LLC boosted its stake in SkyWest by 27.7% in the 2nd quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock worth $36,602,000 after purchasing an additional 96,830 shares during the period. 81.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Raymond James upped their price target on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, SkyWest currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

SkyWest Stock Up 6.4 %

NASDAQ SKYW opened at $101.33 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 company has a market capitalization of $4.06 billion, a P/E ratio of 17.32 and a beta of 1.93. SkyWest, Inc. has a one year low of $41.96 and a one year high of $103.49. The stock has a 50 day moving average price of $84.84 and a 200-day moving average price of $79.88.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.24. The company had revenue of $912.79 million for the quarter, compared to analyst estimates of $896.21 million. SkyWest had a return on equity of 11.20% and a net margin of 7.29%. SkyWest’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 EPS. As a group, equities analysts predict that SkyWest, Inc. will post 6.88 EPS for the current fiscal year.

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.