Shell Asset Management Co. cut its stake in SkyWest Inc. (NASDAQ:SKYW) by 5.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,984 shares of the company’s stock after selling 1,424 shares during the period. Shell Asset Management Co.’s holdings in SkyWest were worth $661,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its stake 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 last quarter. Invictus RG acquired a new stake in SkyWest during the first quarter valued at about $144,000. Schonfeld Strategic Advisors LLC acquired a new stake in SkyWest during the first quarter valued at about $219,000. Capital One National Association acquired a new stake in SkyWest during the second quarter valued at about $244,000. Finally, HBK Investments L P acquired a new stake in SkyWest during the first quarter valued at about $486,000. 86.16% of the stock is owned by institutional investors.
SkyWest Inc. (NASDAQ:SKYW) traded down 0.07% during midday trading on Friday, reaching $28.50. 424,381 shares of the company were exchanged. The firm’s 50-day moving average is $27.56 and its 200-day moving average is $25.12. The firm 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 one year low of $13.23 and a one year high of $29.87.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.67 by $0.10. The business earned $801.34 million during the quarter, compared to analysts’ expectations of $764.04 million. SkyWest had a net margin of 4.63% and a return on equity of 8.47%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. On average, equities analysts expect that SkyWest Inc. will post $2.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Friday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Wednesday, September 28th. SkyWest’s dividend payout ratio is currently 7.19%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of SkyWest from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, August 2nd. Deutsche Bank AG raised their price target on shares of SkyWest from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 29th. Five analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $28.40.
In related news, Director Henry J. Eyring sold 6,267 shares of the firm’s stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $11.49, for a total transaction of $72,007.83. Following the completion of the sale, the director now directly owns 35,549 shares in the company, valued at $408,458.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wade J. Steel sold 9,292 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $28.56, for a total transaction of $265,379.52. The disclosure for this sale can be found here. Corporate 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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