GAMMA Investing LLC Purchases 196 Shares of SkyWest, Inc. (NASDAQ:SKYW)

GAMMA Investing LLC raised its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 14.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,561 shares of the transportation company’s stock after purchasing an additional 196 shares during the quarter. GAMMA Investing LLC’s holdings in SkyWest were worth $156,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of SkyWest by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 357,510 shares of the transportation company’s stock valued at $30,396,000 after buying an additional 11,169 shares during the last quarter. Principal Financial Group Inc. lifted its position in SkyWest by 9.1% in the 3rd quarter. Principal Financial Group Inc. now owns 216,574 shares of the transportation company’s stock valued at $18,413,000 after acquiring an additional 18,047 shares in the last quarter. Tidal Investments LLC acquired a new position in SkyWest during the 3rd quarter valued at about $648,000. Wilmington Savings Fund Society FSB bought a new stake in SkyWest during the 3rd quarter worth approximately $31,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of SkyWest in the third quarter worth approximately $233,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Stock Performance

Shares of SKYW opened at $111.04 on Thursday. The stock has a 50 day moving average of $107.25 and a 200 day moving average of $90.57. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 18.98 and a beta of 1.98. SkyWest, Inc. has a 12 month low of $48.28 and a 12 month high of $117.51. 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 (NASDAQ:SKYW) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.24. The firm had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business’s revenue was up 19.1% compared to the same quarter last year. During the same period last year, the firm posted $0.55 EPS. As a group, sell-side analysts forecast that SkyWest, Inc. will post 7.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SKYW. Raymond James lifted their target price on SkyWest from $114.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, December 30th. 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 report on Tuesday, November 5th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.25.

Insider Buying and Selling

In other SkyWest news, CEO Russell A. Childs sold 27,903 shares of the firm’s 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Eric Woodward sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the completion of the sale, the chief accounting officer now owns 44,426 shares in the company, valued at approximately $4,954,831.78. The trade was a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,467 shares of company stock worth $10,082,596. Insiders own 2.00% of the company’s stock.

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.