Citigroup Inc. Grows Position in SkyWest, Inc. (NASDAQ:SKYW)

Citigroup Inc. increased its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 50.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,565 shares of the transportation company’s stock after acquiring an additional 20,752 shares during the quarter. Citigroup Inc. owned approximately 0.15% of SkyWest worth $5,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SKYW. Pacer Advisors Inc. raised its stake in shares of SkyWest by 2.3% in the second quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock valued at $184,855,000 after buying an additional 51,180 shares during the period. American Century Companies Inc. increased its holdings 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 acquiring an additional 165,670 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in SkyWest by 12.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock valued at $58,051,000 after acquiring an additional 76,007 shares during the period. SW Investment Management LLC lifted its holdings in SkyWest by 13.2% during the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock valued at $49,242,000 after purchasing an additional 70,000 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in SkyWest by 90.2% during the second 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. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SKYW. The Goldman Sachs Group reissued a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a research report on Friday, November 15th. Raymond James increased their target price on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, TD Cowen lifted their price target on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.75.

SkyWest Stock Performance

SkyWest stock opened at $114.43 on Tuesday. SkyWest, Inc. has a 1-year low of $47.32 and a 1-year high of $117.51. 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 firm has a market capitalization of $4.61 billion, a PE ratio of 19.56 and a beta of 1.93. The firm’s 50 day simple moving average is $99.19 and its 200 day simple moving average is $85.41.

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, topping the consensus estimate of $1.92 by $0.24. The firm had revenue of $912.79 million for the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The business’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. As a group, analysts expect that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SkyWest news, Director Ronald J. Mittelstaedt sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total transaction of $2,801,500.00. Following the sale, the director now owns 11,283 shares in the company, valued at $1,264,372.98. This trade represents a 68.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction dated 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 directly owns 97,654 shares of the company’s stock, valued at approximately $10,202,889.92. This trade represents a 16.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,467 shares of company stock worth $10,082,596 in the last ninety days. 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.