Semanteon Capital Management LP Makes New Investment in SkyWest, Inc. $SKYW

Semanteon Capital Management LP purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,630 shares of the transportation company’s stock, valued at approximately $566,000.

Other large investors have also modified their holdings of the company. Salomon & Ludwin LLC bought a new position in SkyWest in the 3rd quarter worth $38,000. Elevation Point Wealth Partners LLC bought a new stake in SkyWest during the second quarter valued at about $40,000. EverSource Wealth Advisors LLC grew its position in shares of 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 last quarter. Farther Finance Advisors LLC increased its stake 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 worth $116,000 after purchasing an additional 999 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of SkyWest by 105.8% during the 3rd quarter. Blue Trust Inc. now owns 1,167 shares of the transportation company’s stock worth $117,000 after purchasing an additional 600 shares during the last quarter. 81.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Wade J. Steel sold 7,371 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $107.56, for a total value of $792,824.76. Following the sale, the insider owned 98,067 shares in the company, valued at approximately $10,548,086.52. The trade was a 6.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meredith Siegfried Madden sold 4,725 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $106.54, for a total transaction of $503,401.50. Following the completion of the sale, the director directly owned 25,362 shares in the company, valued at approximately $2,702,067.48. The trade was a 15.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on SKYW shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. Zacks Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Cantor Fitzgerald set a $122.00 target price on shares of SkyWest in a research note on Monday, January 26th. Citigroup initiated coverage on shares of SkyWest in a report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price target for the company. Finally, 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 report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, SkyWest currently has an average rating of “Moderate Buy” and an average target price of $123.83.

SkyWest Stock Performance

NASDAQ SKYW opened at $103.23 on Friday. SkyWest, Inc. has a twelve month low of $74.70 and a twelve month high of $123.94. The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The stock has a market cap of $4.17 billion, a P/E ratio of 9.97, a PEG ratio of 0.69 and a beta of 1.65. The company’s 50-day simple moving average is $101.77 and its 200 day simple moving average is $103.87.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, January 29th. The transportation company reported $2.21 earnings per share 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 for the quarter, compared to analyst estimates of $993.12 million. During the same period in the previous year, the firm posted $2.34 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

SkyWest Company 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.