Empowered Funds LLC Sells 34,968 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Empowered Funds LLC lessened its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 138,286 shares of the transportation company’s stock after selling 34,968 shares during the quarter. Empowered Funds LLC owned 0.34% of SkyWest worth $13,847,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. increased its position in SkyWest by 1,368.0% in the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after buying an additional 342 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of SkyWest in the third quarter worth approximately $31,000. Sound Income Strategies LLC purchased a new stake in shares of SkyWest in the fourth quarter worth approximately $50,000. GAMMA Investing LLC increased its holdings in SkyWest by 47.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock worth $116,000 after purchasing an additional 437 shares during the period. Finally, USA Financial Formulas increased its holdings in SkyWest by 63.7% during the 4th quarter. USA Financial Formulas now owns 1,180 shares of the transportation company’s stock worth $118,000 after purchasing an additional 459 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

NASDAQ SKYW opened at $116.76 on Friday. The stock has a 50-day moving average of $109.24 and a 200 day moving average of $95.38. SkyWest, Inc. has a twelve month low of $57.15 and a twelve month high of $135.57. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 15.03 and a beta of 1.98. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same period in the previous year, the firm earned $0.42 earnings per share. Sell-side analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SKYW. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a report on Friday, November 15th. TD Cowen boosted their price target on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Raymond James restated an “outperform” rating and issued a $130.00 target price (up previously from $120.00) on shares of SkyWest in a research note on Friday, January 31st.

SkyWest Company 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.