Mutual of America Capital Management LLC Has $513,000 Position in SkyWest, Inc. (NASDAQ:SKYW)

Mutual of America Capital Management LLC lessened its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 8.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,032 shares of the transportation company’s stock after selling 586 shares during the period. Mutual of America Capital Management LLC’s holdings in SkyWest were worth $513,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SKYW. Pacer Advisors Inc. boosted its stake in shares of SkyWest by 2.3% in the 2nd 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. lifted its holdings in SkyWest by 16.8% in the second quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock valued at $94,510,000 after buying an additional 165,670 shares during the period. SW Investment Management LLC boosted its stake in SkyWest by 13.2% in the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock valued at $49,242,000 after acquiring an additional 70,000 shares during the last quarter. Victory Capital Management Inc. grew its holdings in SkyWest by 90.2% during the 2nd quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock worth $45,225,000 after acquiring an additional 261,349 shares during the period. Finally, Millennium Management LLC raised its position in shares of SkyWest by 27.7% during the 2nd quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after acquiring an additional 96,830 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Price Performance

SkyWest stock opened at $115.11 on Wednesday. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 19.52 and a beta of 1.93. The stock’s 50 day moving average is $95.82 and its 200-day moving average is $84.09. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. SkyWest, Inc. has a 12 month low of $45.42 and a 12 month high of $116.47.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The company had revenue of $912.79 million for the quarter, compared to analysts’ expectations of $896.21 million. During the same period last year, the firm earned $0.55 earnings per share. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts expect that SkyWest, Inc. will post 7.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SKYW shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th. Raymond James upped their price target on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, TD Cowen lifted their price objective on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and three have given 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 target price of $105.75.

Insider Buying and Selling at SkyWest

In related news, CEO Russell A. Childs sold 27,903 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total value of $3,110,347.41. Following the completion of the sale, the chief executive officer now directly owns 349,548 shares in the company, valued at $38,964,115.56. This represents a 7.39 % 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, CFO Robert J. Simmons sold 16,485 shares of SkyWest stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $105.02, for a total value of $1,731,254.70. Following the completion of the transaction, the chief financial officer now directly owns 113,539 shares in the company, valued at approximately $11,923,865.78. This represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,467 shares of company stock valued at $10,082,596. 2.00% of the stock is currently owned by corporate insiders.

About SkyWest

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.