Profund Advisors LLC decreased its position in SkyWest, Inc. (NASDAQ:SKYW) by 32.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,566 shares of the transportation company’s stock after selling 3,603 shares during the period. Profund Advisors LLC’s holdings in SkyWest were worth $266,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in SKYW. Oppenheimer Asset Management Inc. lifted its stake in SkyWest by 108.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 1,488 shares during the period. Ameritas Investment Partners Inc. bought a new position in SkyWest during the 1st quarter valued at about $138,000. Riverhead Capital Management LLC lifted its stake in SkyWest by 81.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock valued at $146,000 after acquiring an additional 1,862 shares during the period. Laurion Capital Management LP bought a new position in SkyWest during the 1st quarter valued at about $202,000. Finally, Amalgamated Bank lifted its stake in SkyWest by 1.6% during the 2nd quarter. Amalgamated Bank now owns 6,926 shares of the transportation company’s stock valued at $243,000 after acquiring an additional 110 shares during the period. Institutional investors own 89.39% of the company’s stock.
Several equities analysts have issued reports on SKYW shares. BidaskClub cut shares of SkyWest from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Cowen and Company restated an “outperform” rating and set a $44.00 target price (up previously from $40.00) on shares of SkyWest in a research note on Monday, August 7th. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 29th. Finally, Zacks Investment Research cut shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $44.17.
SkyWest, Inc. (NASDAQ SKYW) opened at 45.75 on Wednesday. The company’s market cap is $2.37 billion. SkyWest, Inc. has a 52 week low of $27.95 and a 52 week high of $47.60. The stock has a 50 day moving average of $39.81 and a 200 day moving average of $36.66.
SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 27th. The transportation company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.08. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The firm had revenue of $809.76 million during the quarter, compared to the consensus estimate of $790.14 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts predict that SkyWest, Inc. will post $3.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 29th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Thursday, September 28th. SkyWest’s dividend payout ratio (DPR) is -11.31%.
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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