California State Teachers Retirement System reduced its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 9.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,262 shares of the transportation company’s stock after selling 8,693 shares during the period. California State Teachers Retirement System owned approximately 0.16% of SkyWest worth $3,567,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. grew its stake in shares of SkyWest by 108.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock worth $100,000 after buying an additional 1,488 shares in the last quarter. Riverhead Capital Management LLC grew its stake in shares of SkyWest by 81.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock worth $146,000 after buying an additional 1,862 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of SkyWest by 10.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock worth $156,000 after buying an additional 419 shares in the last quarter. Flinton Capital Management LLC grew its stake in shares of SkyWest by 73.1% in the 2nd quarter. Flinton Capital Management LLC now owns 5,474 shares of the transportation company’s stock worth $192,000 after buying an additional 2,312 shares in the last quarter. Finally, Pitcairn Co. purchased a new position in shares of SkyWest in the 3rd quarter worth $205,000. 90.75% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of SkyWest from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a research note on Thursday, January 11th. Cowen reiterated a “buy” rating and set a $60.00 price objective on shares of SkyWest in a report on Tuesday, January 9th. BidaskClub lowered shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Finally, Imperial Capital lifted their price objective on shares of SkyWest from $38.00 to $47.00 and gave the company an “in-line” rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and four have assigned a strong buy rating to the company. SkyWest currently has a consensus rating of “Buy” and a consensus target price of $52.20.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.98 by $0.03. The business had revenue of $831.93 million during the quarter, compared to analyst estimates of $817.43 million. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. sell-side analysts expect that SkyWest, Inc. will post 3.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 29th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.58%. SkyWest’s dividend payout ratio (DPR) is presently -12.26%.
In other SkyWest news, insider Wade J. Steel sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $47.00, for a total transaction of $211,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Russell A. Childs sold 1,766 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $47.22, for a total transaction of $83,390.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 154,239 shares of company stock valued at $7,512,577. 3.50% of the stock is currently owned by company insiders.
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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.
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