Allianz Asset Management GmbH Increases Stock Position in SkyWest, Inc. $SKYW

Allianz Asset Management GmbH increased its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 214.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 251,760 shares of the transportation company’s stock after buying an additional 171,704 shares during the quarter. Allianz Asset Management GmbH’s holdings in SkyWest were worth $25,332,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new stake in SkyWest in the 3rd quarter valued at $38,000. Elevation Point Wealth Partners LLC purchased a new position in SkyWest during the 2nd quarter worth $40,000. Blue Trust Inc. increased its stake in SkyWest by 478.6% in the second quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 469 shares during the period. EverSource Wealth Advisors LLC increased its stake in SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 339 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of SkyWest by 666.0% in the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company’s stock valued at $116,000 after buying an additional 999 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

NASDAQ:SKYW opened at $105.96 on Friday. SkyWest, Inc. has a twelve month low of $74.70 and a twelve month high of $123.94. The company has a market capitalization of $4.25 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 0.68 and a beta of 1.65. The company has a current ratio of 0.65, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $101.56 and a two-hundred day moving average price of $104.52.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $993.12 million. During the same period in the previous year, the company posted $2.34 EPS. SkyWest’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on SKYW shares. Cantor Fitzgerald set a $122.00 price objective on SkyWest in a research note on Monday, January 26th. Citigroup started coverage on SkyWest in a research note on Thursday, December 4th. They set a “neutral” rating and a $112.00 price target for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. TD Cowen dropped their price objective on shares of SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Finally, Wall Street Zen cut shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.83.

Insider Transactions at SkyWest

In other SkyWest news, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $106.54, for a total transaction of $503,401.50. Following the sale, the director directly owned 25,362 shares of the company’s stock, valued at $2,702,067.48. This trade represents a 15.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

SkyWest Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.