Hudson Bay Capital Management LP Sells 42,169 Shares of SkyWest, Inc. $SKYW

Hudson Bay Capital Management LP lessened its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 84.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,905 shares of the transportation company’s stock after selling 42,169 shares during the quarter. Hudson Bay Capital Management LP’s holdings in SkyWest were worth $795,000 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 the business. American Century Companies Inc. grew its stake in shares of SkyWest by 3.0% in the 3rd quarter. American Century Companies Inc. now owns 1,612,098 shares of the transportation company’s stock valued at $162,209,000 after purchasing an additional 46,744 shares during the period. Invesco Ltd. lifted its position in shares of SkyWest by 1.5% during the 2nd quarter. Invesco Ltd. now owns 573,074 shares of the transportation company’s stock worth $59,009,000 after buying an additional 8,342 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in SkyWest by 1.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 548,682 shares of the transportation company’s stock valued at $55,208,000 after buying an additional 7,862 shares in the last quarter. Millennium Management LLC boosted its stake in SkyWest by 90.6% in the 3rd quarter. Millennium Management LLC now owns 351,149 shares of the transportation company’s stock valued at $35,333,000 after buying an additional 166,926 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in SkyWest by 39.0% in the third quarter. JPMorgan Chase & Co. now owns 298,255 shares of the transportation company’s stock valued at $30,011,000 after acquiring an additional 83,705 shares during the period. Institutional investors own 81.30% of the company’s stock.

Insider Transactions at SkyWest

In related news, insider Wade J. Steel sold 20,629 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the transaction, the insider owned 77,438 shares in the company, valued at $8,249,470.14. This represents a 21.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SKYW has been the subject of several recent analyst reports. Cantor Fitzgerald set a $122.00 price objective on SkyWest in a research note on Monday, January 26th. TD Cowen lowered their target price on shares of SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Finally, Citigroup reduced their price target on shares of SkyWest from $112.00 to $101.00 and set a “neutral” rating on the stock in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, four have assigned 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 an average target price of $122.00.

SkyWest Trading Down 1.6%

Shares of SKYW opened at $87.89 on Monday. The stock has a fifty day moving average price of $99.47 and a two-hundred day moving average price of $100.76. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.55 and a current ratio of 0.65. SkyWest, Inc. has a 52-week low of $74.70 and a 52-week high of $123.94. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 1.18 and a beta of 1.58.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, January 29th. The transportation company reported $2.21 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $993.12 million. During the same quarter in the previous year, the company posted $2.34 EPS. SkyWest’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

SkyWest Company 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.