SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 15.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 211,065 shares of the transportation company’s stock after selling 39,454 shares during the period. Clearbridge Investments LLC owned 0.52% of SkyWest worth $17,322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kings Path Partners LLC purchased a new stake in shares of SkyWest in the second quarter worth about $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SkyWest in the 2nd quarter valued at about $54,000. CWM LLC grew its stake in shares of SkyWest by 57.3% during the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock valued at $63,000 after acquiring an additional 279 shares in the last quarter. GAMMA Investing LLC increased its position in shares of SkyWest by 45.9% during the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock worth $76,000 after acquiring an additional 292 shares during the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in SkyWest during the 4th quarter worth approximately $52,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Stock Performance

Shares of SKYW opened at $85.17 on Friday. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 30.75 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, Inc. has a 52-week low of $36.91 and a 52-week high of $87.86. The business’s 50 day moving average is $77.08 and its two-hundred day moving average is $76.33.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, July 25th. The transportation company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.09. The business had revenue of $867.10 million during 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%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned $0.35 earnings per share. Analysts forecast 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.