Sanctuary Advisors LLC Makes New Investment in SkyWest, Inc. (NASDAQ:SKYW)

Sanctuary Advisors LLC acquired a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,741 shares of the transportation company’s stock, valued at approximately $233,000.

Several other large investors have also modified their holdings of SKYW. Pacer Advisors Inc. boosted its holdings in 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 purchasing an additional 51,180 shares during the last quarter. American Century Companies Inc. grew 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 buying an additional 165,670 shares in the last quarter. Geode Capital Management LLC lifted its holdings in SkyWest by 0.7% in the third quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock worth $81,697,000 after purchasing an additional 6,542 shares during the period. Charles Schwab Investment Management Inc. lifted its position in SkyWest by 12.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock worth $58,051,000 after purchasing an additional 76,007 shares during the period. Finally, SW Investment Management LLC raised its position in SkyWest by 13.2% in the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock worth $49,242,000 after acquiring an additional 70,000 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

SkyWest Price Performance

Shares of NASDAQ SKYW opened at $101.26 on Monday. SkyWest, Inc. has a twelve month low of $48.28 and a twelve month high of $117.51. The company has a market cap of $4.08 billion, a PE ratio of 17.31 and a beta of 1.96. The business’s 50 day moving average price is $106.06 and its two-hundred day moving average price is $89.40. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. The business had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. SkyWest’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, analysts predict that SkyWest, Inc. will post 7.16 EPS for the current year.

Insider Activity

In other news, Director Ronald J. Mittelstaedt sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total value of $2,801,500.00. Following the sale, the director now owns 11,283 shares of the company’s stock, valued at $1,264,372.98. The trade was 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 the SEC website. Also, CEO Russell A. Childs sold 27,903 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the completion of the transaction, the chief executive officer now owns 349,548 shares of the company’s stock, valued at $38,964,115.56. This trade represents a 7.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,467 shares of company stock valued at $10,082,596. 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.