Employees Retirement System of Texas reduced its stake in SkyWest, Inc. (NASDAQ:SKYW) by 35.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,000 shares of the transportation company’s stock after selling 53,000 shares during the period. Employees Retirement System of Texas owned approximately 0.19% of SkyWest worth $3,405,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its holdings 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 during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of SkyWest during the 1st quarter worth about $138,000. Riverhead Capital Management LLC boosted its stake in shares of SkyWest by 81.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock worth $146,000 after purchasing an additional 1,862 shares during the period. Laurion Capital Management LP purchased a new position in shares of SkyWest during the 1st quarter worth about $202,000. Finally, Bayesian Capital Management LP purchased a new position in shares of SkyWest during the 2nd quarter worth about $240,000. Institutional investors own 89.39% of the company’s stock.
SKYW has been the subject of a number of recent analyst reports. BidaskClub cut shares of SkyWest from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. ValuEngine raised shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 29th. Zacks Investment Research lowered shares of SkyWest from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Cowen and Company boosted their price target on shares of SkyWest from $44.00 to $52.00 and gave the company an “outperform” rating in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $44.17.
SkyWest, Inc. (SKYW) opened at 46.35 on Wednesday. SkyWest, Inc. has a 52 week low of $28.05 and a 52 week high of $47.60. The company has a 50-day moving average of $41.16 and a 200-day moving average of $36.91. The stock’s market cap is $2.40 billion.
SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.08. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The firm had revenue of $809.76 million for the quarter, compared to analyst estimates of $790.14 million. During the same period last year, the company earned $0.77 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that SkyWest, Inc. will post $3.25 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Friday, September 29th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Thursday, September 28th. SkyWest’s dividend payout ratio is presently -11.31%.
SkyWest Company Profile
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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