Allianz Asset Management GmbH Purchases 171,704 Shares of SkyWest, Inc. $SKYW

Allianz Asset Management GmbH raised its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 214.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 251,760 shares of the transportation company’s stock after purchasing an additional 171,704 shares during the period. Allianz Asset Management GmbH owned approximately 0.62% of SkyWest worth $25,332,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Salomon & Ludwin LLC purchased a new position in shares of SkyWest in the 3rd quarter worth $38,000. Elevation Point Wealth Partners LLC purchased a new position in shares of SkyWest in the second quarter worth $40,000. Blue Trust Inc. lifted its stake in SkyWest by 478.6% in the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock worth $58,000 after purchasing an additional 469 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in SkyWest by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 339 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of SkyWest by 666.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company’s stock valued at $116,000 after buying an additional 999 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Up 4.1%

SKYW stock opened at $105.96 on Friday. SkyWest, Inc. has a one year low of $74.70 and a one year high of $123.94. The firm has a market cap of $4.25 billion, a PE ratio of 10.24, a PEG ratio of 0.68 and a beta of 1.65. The firm’s 50 day moving average price is $101.56 and its 200-day moving average price is $104.52. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.65.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). SkyWest had a return on equity of 16.35% and a net margin of 10.56%.The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $993.12 million. During the same period in the previous year, the business posted $2.34 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Activity at SkyWest

In other SkyWest news, Director Meredith Siegfried Madden sold 4,725 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $106.54, for a total value of $503,401.50. Following the completion of the transaction, the director owned 25,362 shares of the company’s stock, valued at $2,702,067.48. This trade represents a 15.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SKYW. Cantor Fitzgerald set a $122.00 price target on SkyWest in a report on Monday, January 26th. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. Zacks Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Citigroup started coverage on SkyWest in a report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price objective on the stock. Finally, Wall Street Zen lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and a consensus target price of $123.83.

SkyWest Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.