Capital Fund Management S.A. reduced its stake in shares of SkyWest Inc. (NASDAQ:SKYW) by 64.4% during the second quarter, Holdings Channel reports. The firm owned 45,715 shares of the company’s stock after selling 82,685 shares during the period. Capital Fund Management S.A.’s holdings in SkyWest were worth $1,210,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased 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 period. Nisa Investment Advisors LLC increased its position in SkyWest by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 62,800 shares of the company’s stock valued at $1,662,000 after buying an additional 700 shares during the period. Royal Bank of Canada increased its position in SkyWest by 30.2% in the first quarter. Royal Bank of Canada now owns 6,118 shares of the company’s stock valued at $122,000 after buying an additional 1,418 shares during the period. New York State Teachers Retirement System increased its position in SkyWest by 3.5% in the second quarter. New York State Teachers Retirement System now owns 140,271 shares of the company’s stock valued at $3,712,000 after buying an additional 4,800 shares during the period. Finally, Bank of Montreal Can acquired a new position in SkyWest during the second quarter valued at approximately $172,000. Institutional investors and hedge funds own 86.16% of the company’s stock.
Shares of SkyWest Inc. (NASDAQ:SKYW) traded down 0.07% during midday trading on Friday, reaching $28.50. 424,381 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $27.56 and a 200 day moving average price of $25.12. The company has a market cap of $1.47 billion, a P/E ratio of 10.27 and a beta of 1.73. SkyWest Inc. has a 12 month low of $13.23 and a 12 month high of $29.87.
SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 28th. The company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. The company had revenue of $801.34 million for the quarter, compared to analysts’ expectations of $764.04 million. SkyWest had a return on equity of 8.47% and a net margin of 4.63%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 EPS. Equities research analysts forecast that SkyWest Inc. will post $2.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 30th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Wednesday, September 28th. SkyWest’s payout ratio is 7.19%.
Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, August 2nd. Deutsche Bank AG upped their price target on shares of SkyWest from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Five equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $28.40.
In other news, Director Jerry C. Atkin sold 13,965 shares of SkyWest stock in a transaction on Monday, August 15th. The stock was sold at an average price of $28.36, for a total transaction of $396,047.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael B. Thompson sold 7,899 shares of SkyWest stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $28.50, for a total value of $225,121.50. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
SkyWest Company Profile
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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