Summit Global Investments Acquires 1,726 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Summit Global Investments lifted its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 27.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,061 shares of the transportation company’s stock after acquiring an additional 1,726 shares during the period. Summit Global Investments’ holdings in SkyWest were worth $807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its holdings in SkyWest by 0.9% during the third quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company’s stock worth $921,000 after purchasing an additional 98 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in SkyWest by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the transportation company’s stock worth $1,953,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in SkyWest by 1.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,495 shares of the transportation company’s stock worth $951,000 after purchasing an additional 100 shares during the last quarter. Highland Capital Management LLC boosted its holdings in SkyWest by 6.1% during the fourth quarter. Highland Capital Management LLC now owns 2,783 shares of the transportation company’s stock worth $279,000 after purchasing an additional 160 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in SkyWest by 14.4% during the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the transportation company’s stock worth $156,000 after purchasing an additional 196 shares during the last quarter. 81.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Raymond James restated an “outperform” rating and set a $130.00 price target (up from $120.00) on shares of SkyWest in a report on Friday, January 31st.

SkyWest Stock Up 0.8 %

SKYW opened at $91.12 on Monday. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 11.73 and a beta of 2.00. SkyWest, Inc. has a twelve month low of $64.61 and a twelve month high of $135.57. The company’s 50-day moving average price is $103.29 and its two-hundred day moving average price is $100.02.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.59. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. During the same period in the previous year, the business earned $0.42 EPS. As a group, equities analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Insider Buying and Selling at SkyWest

In related news, VP Greg Wooley sold 14,545 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the sale, the vice president now directly owns 68,737 shares in the company, valued at approximately $7,267,563.01. This represents a 17.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert J. Simmons sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the sale, the chief financial officer now owns 175,067 shares in the company, valued at $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.