New York State Common Retirement Fund reduced its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 14.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,881 shares of the company’s stock after selling 55,892 shares during the period. New York State Common Retirement Fund owned 0.65% of SkyWest worth $8,818,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Nationwide Fund Advisors raised its position in SkyWest by 3.6% in the third quarter. Nationwide Fund Advisors now owns 307,156 shares of the company’s stock valued at $8,112,000 after buying an additional 10,627 shares during the last quarter. LSV Asset Management raised its position in SkyWest by 6.8% in the third quarter. LSV Asset Management now owns 720,034 shares of the company’s stock valued at $19,016,000 after buying an additional 46,123 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in SkyWest during the second quarter valued at $1,521,000. JPMorgan Chase & Co. raised its position in SkyWest by 58.4% in the third quarter. JPMorgan Chase & Co. now owns 1,181,750 shares of the company’s stock valued at $31,210,000 after buying an additional 435,713 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in SkyWest by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the company’s stock valued at $603,000 after buying an additional 200 shares during the last quarter. 87.30% of the stock is currently owned by institutional investors.
Shares of SkyWest, Inc. (NASDAQ:SKYW) traded down 0.14% during mid-day trading on Wednesday, reaching $36.50. 56,882 shares of the company’s stock traded hands. SkyWest, Inc. has a 12 month low of $13.23 and a 12 month high of $39.60. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 12.76 and a beta of 1.72. The company has a 50 day moving average of $37.27 and a 200 day moving average of $30.48.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The firm had revenue of $799.78 million for the quarter, compared to analysts’ expectations of $795.89 million. SkyWest had a return on equity of 8.94% and a net margin of 4.79%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 EPS. Analysts expect that SkyWest, Inc. will post $2.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 6th. Shareholders of record on Friday, December 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, December 28th. SkyWest’s payout ratio is 6.99%.
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SKYW has been the topic of several recent analyst reports. Deutsche Bank AG lifted their price objective on shares of SkyWest from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, October 28th. Zacks Investment Research lowered shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 20th. Evercore ISI lowered shares of SkyWest from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $25.00 to $37.00 in a research note on Tuesday, December 6th. Finally, Cowen and Company lifted their price objective on shares of SkyWest from $34.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, December 15th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $35.20.
In other SkyWest news, Director Henry J. Eyring sold 6,267 shares of the stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $11.49, for a total transaction of $72,007.83. Following the transaction, the director now directly owns 35,549 shares in the company, valued at approximately $408,458.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.00% of the company’s stock.
Skywest, Inc is a holding company for approximately two scheduled passenger airline operations and an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and ExpressJet. SkyWest Airlines provides regional jet and turboprop service to airports located in the Midwestern and Western United States.
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