SkyWest, Inc. $SKYW Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,324 shares of the transportation company’s stock after selling 5,378 shares during the quarter. New York State Common Retirement Fund’s holdings in SkyWest were worth $5,164,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of SkyWest by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company’s stock worth $1,150,000 after purchasing an additional 87 shares during the period. Soltis Investment Advisors LLC lifted its position in SkyWest by 0.4% during the second quarter. Soltis Investment Advisors LLC now owns 21,920 shares of the transportation company’s stock valued at $2,257,000 after buying an additional 95 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in SkyWest by 4.2% during the second quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company’s stock worth $257,000 after buying an additional 100 shares during the period. Maryland State Retirement & Pension System increased its position in shares of SkyWest by 0.9% in the second quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company’s stock worth $1,225,000 after acquiring an additional 106 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in shares of SkyWest by 2.0% in the second quarter. Evergreen Capital Management LLC now owns 5,827 shares of the transportation company’s stock worth $600,000 after acquiring an additional 113 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SKYW has been the topic of several recent research reports. Wall Street Zen lowered shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Cantor Fitzgerald set a $122.00 price objective on SkyWest in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. Citigroup started coverage on SkyWest in a research note on Thursday, December 4th. They issued a “neutral” rating and a $112.00 target price for the company. Finally, TD Cowen reduced their price target on SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $123.83.

Insider Activity

In related news, Director Meredith Siegfried Madden sold 4,725 shares of SkyWest stock in a transaction 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 sale, the director owned 25,362 shares in the company, valued at approximately $2,702,067.48. The trade was a 15.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

SkyWest Stock Up 4.1%

Shares of SkyWest stock opened at $105.96 on Friday. SkyWest, Inc. has a 1-year low of $74.70 and a 1-year high of $123.94. The company has a market capitalization of $4.25 billion, a PE ratio of 10.24, a P/E/G ratio of 0.68 and a beta of 1.65. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.61. The business has a 50-day moving average of $101.56 and a 200-day moving average of $104.52.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $993.12 million. During the same period in the prior year, the company posted $2.34 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

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.