SkyWest, Inc. $SKYW Shares Purchased by Assetmark Inc.

Assetmark Inc. grew its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 7.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,863 shares of the transportation company’s stock after purchasing an additional 5,634 shares during the quarter. Assetmark Inc.’s holdings in SkyWest were worth $7,517,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its stake in SkyWest by 480.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 216 shares in the last quarter. Transamerica Financial Advisors LLC lifted its stake in SkyWest by 273.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after purchasing an additional 197 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in SkyWest in the 3rd quarter worth approximately $62,000. EverSource Wealth Advisors LLC boosted its holdings in shares of SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of SkyWest during the 4th quarter worth approximately $83,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Down 4.2%

SkyWest stock opened at $95.14 on Wednesday. The stock has a market cap of $3.77 billion, a PE ratio of 9.12, a P/E/G ratio of 1.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.62 and a quick ratio of 0.51. The stock’s fifty day moving average is $91.11 and its two-hundred day moving average is $94.45. SkyWest, Inc. has a 1-year low of $77.89 and a 1-year high of $123.94.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, April 23rd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.35. SkyWest had a net margin of 10.42% and a return on equity of 15.55%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $993.06 million. During the same quarter in the prior year, the firm posted $2.42 earnings per share. SkyWest’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that SkyWest, Inc. will post 10.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SKYW shares. Weiss Ratings raised SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. TD Cowen lifted their target price on SkyWest from $98.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Citigroup upped their price target on SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Finally, The Goldman Sachs Group cut SkyWest from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $126.00 to $115.00 in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

About SkyWest

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.