Hanson & Doremus Investment Management cut its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 16.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,603 shares of the transportation company’s stock after selling 2,261 shares during the quarter. Hanson & Doremus Investment Management’s holdings in SkyWest were worth $666,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in SKYW. Meeder Asset Management Inc. raised its holdings in shares of SkyWest by 95.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 646 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 316 shares in the last quarter. AdvisorNet Financial Inc raised its stake in SkyWest by 32.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,852 shares of the transportation company’s stock worth $112,000 after acquiring an additional 457 shares in the last quarter. C M Bidwell & Associates Ltd. raised its stake in SkyWest by 90.6% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,630 shares of the transportation company’s stock worth $160,000 after acquiring an additional 1,250 shares in the last quarter. Atria Investments LLC acquired a new stake in SkyWest during the 2nd quarter worth $229,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in SkyWest during the 2nd quarter worth $176,000. Institutional investors own 90.04% of the company’s stock.
Several brokerages recently commented on SKYW. Stephens started coverage on shares of SkyWest in a research note on Monday, November 4th. They set an “overweight” rating and a $75.00 price target on the stock. Evercore ISI reissued a “buy” rating and set a $72.00 price objective on shares of SkyWest in a research report on Thursday, August 8th. ValuEngine downgraded shares of SkyWest from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Finally, BidaskClub raised shares of SkyWest from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $67.29.
In related news, insider Wade J. Steel sold 17,030 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $60.02, for a total value of $1,022,140.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael B. Thompson sold 5,523 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $60.19, for a total transaction of $332,429.37. The disclosure for this sale can be found here. Insiders sold 32,553 shares of company stock valued at $1,955,270 over the last 90 days. Insiders own 3.60% of the company’s stock.
SKYW traded down $0.04 during midday trading on Friday, reaching $63.15. 167,300 shares of the company’s stock were exchanged, compared to its average volume of 225,054. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.84 and a quick ratio of 0.72. SkyWest, Inc. has a 1-year low of $42.38 and a 1-year high of $63.69. The business’s 50-day moving average price is $57.91 and its 200 day moving average price is $58.91. The stock has a market capitalization of $3.22 billion, a PE ratio of 11.92 and a beta of 1.58.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.05. SkyWest had a net margin of 11.04% and a return on equity of 15.52%. The company had revenue of $760.30 million during the quarter, compared to the consensus estimate of $752.93 million. During the same period in the previous year, the firm earned $1.57 earnings per share. SkyWest’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, analysts expect that SkyWest, Inc. will post 6.22 EPS for the current fiscal year.
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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