Wealth Enhancement Advisory Services LLC Buys New Stake in SkyWest, Inc. (NASDAQ:SKYW)

Wealth Enhancement Advisory Services LLC purchased a new stake 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 purchased 2,655 shares of the transportation company’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Highland Capital Management LLC purchased a new position in shares of SkyWest during the 3rd quarter valued at approximately $223,000. International Assets Investment Management LLC lifted its position in shares of SkyWest by 8,402.9% in the third quarter. International Assets Investment Management LLC now owns 2,891 shares of the transportation company’s stock valued at $246,000 after acquiring an additional 2,857 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of SkyWest by 20.2% during the third quarter. Sequoia Financial Advisors LLC now owns 4,558 shares of the transportation company’s stock worth $388,000 after purchasing an additional 767 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in SkyWest by 658.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,073 shares of the transportation company’s stock valued at $431,000 after purchasing an additional 4,404 shares during the last quarter. Finally, NBC Securities Inc. lifted its holdings in SkyWest by 1,368.0% in the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 342 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Trading Up 1.1 %

Shares of SKYW stock opened at $114.16 on Tuesday. SkyWest, Inc. has a twelve month low of $42.11 and a twelve month high of $116.47. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 19.55 and a beta of 1.93. The company’s 50-day moving average price is $88.06 and its 200-day moving average price is $81.29. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 0.95.

SkyWest (NASDAQ:SKYW) last posted its 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 company had revenue of $912.79 million for 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%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 earnings per share. As a group, equities analysts predict that SkyWest, Inc. will post 7.16 earnings per share for the current year.

Wall Street Analyst Weigh In

SKYW has been the subject of a number of recent research reports. TD Cowen increased their target price 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. Raymond James increased their price objective on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.33.

Insiders Place Their Bets

In other news, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction on 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 completion of the sale, the insider now directly owns 97,654 shares of the company’s stock, valued at approximately $10,202,889.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Eric Woodward sold 4,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total value of $446,120.00. Following the transaction, the chief accounting officer now directly owns 44,426 shares in the company, valued at approximately $4,954,831.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,467 shares of company stock valued at $10,082,596 over the last 90 days. 2.00% of the stock is owned by company 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.