Acadian Asset Management LLC Invests $520,000 in SkyWest, Inc. (NASDAQ:SKYW)

Acadian Asset Management LLC purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,337 shares of the transportation company’s stock, valued at approximately $520,000.

Several other institutional investors and hedge funds have also bought and sold shares of SKYW. Victory Capital Management Inc. increased its holdings in SkyWest by 90.2% in the 2nd quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after buying an additional 261,349 shares during the period. Goldman Sachs Group Inc. increased its stake in SkyWest by 46.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 424,239 shares of the transportation company’s stock valued at $22,145,000 after acquiring an additional 134,066 shares during the last quarter. Bridgeway Capital Management LLC raised its position in SkyWest by 1.4% during the first quarter. Bridgeway Capital Management LLC now owns 361,213 shares of the transportation company’s stock valued at $24,953,000 after purchasing an additional 4,813 shares in the last quarter. Clearbridge Investments LLC lifted its stake in SkyWest by 2.4% during the first quarter. Clearbridge Investments LLC now owns 250,519 shares of the transportation company’s stock worth $17,306,000 after purchasing an additional 5,833 shares during the last quarter. Finally, Par Capital Management Inc. increased its stake in shares of SkyWest by 2.5% in the 4th quarter. Par Capital Management Inc. now owns 244,441 shares of the transportation company’s stock valued at $12,760,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

SkyWest Stock Performance

Shares of SkyWest stock opened at $80.01 on Thursday. The company’s 50 day moving average price is $77.11 and its two-hundred day moving average price is $75.00. The firm has a market capitalization of $3.22 billion, a P/E ratio of 28.88 and a beta of 1.95. SkyWest, Inc. has a fifty-two week low of $36.91 and a fifty-two week high of $87.86. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.74.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.09. The company had revenue of $867.10 million for the quarter, compared to the consensus estimate of $826.56 million. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. SkyWest’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. On average, equities 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.