American Century Companies Inc. Increases Holdings in SkyWest, Inc. $SKYW

American Century Companies Inc. boosted its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 3.0% during the third quarter, Holdings Channel.com reports. The fund owned 1,612,098 shares of the transportation company’s stock after acquiring an additional 46,744 shares during the period. American Century Companies Inc.’s holdings in SkyWest were worth $162,209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKYW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in SkyWest by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock worth $2,061,000 after acquiring an additional 1,034 shares during the period. United Services Automobile Association purchased a new stake in shares of SkyWest during the first quarter valued at approximately $227,000. Envestnet Asset Management Inc. increased its position in shares of SkyWest by 16.1% during the second quarter. Envestnet Asset Management Inc. now owns 38,117 shares of the transportation company’s stock worth $3,925,000 after acquiring an additional 5,277 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of SkyWest in the second quarter worth $206,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in SkyWest in the second quarter valued at $1,194,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

Shares of SkyWest stock opened at $104.08 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 0.65. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.70 and a beta of 1.58. The firm has a fifty day moving average of $102.01 and a two-hundred day moving average of $103.54. SkyWest, Inc. has a 52 week low of $74.70 and a 52 week high of $123.94.

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

Analysts Set New Price Targets

Several research firms have weighed in on SKYW. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. TD Cowen dropped their price target on SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Citigroup initiated coverage on SkyWest in a research note on Thursday, December 4th. They set a “neutral” rating and a $112.00 target price on the stock. Cantor Fitzgerald set a $122.00 price objective on shares of SkyWest in a report on Monday, January 26th. Finally, Zacks Research cut SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $123.83.

Insider Activity

In other news, insider Wade J. Steel sold 20,629 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total value of $2,197,607.37. Following the sale, the insider directly owned 77,438 shares in the company, valued at $8,249,470.14. The trade was a 21.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Meredith Siegfried Madden sold 4,725 shares of SkyWest stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $106.54, for a total transaction of $503,401.50. Following the completion of the sale, the director owned 25,362 shares in the company, valued at $2,702,067.48. This trade represents a 15.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,725 shares of company stock worth $3,493,834 in the last three months. Company insiders own 1.20% of the company’s stock.

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.