Arrowstreet Capital Limited Partnership Raises Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Arrowstreet Capital Limited Partnership boosted its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 57.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 525,722 shares of the transportation company’s stock after acquiring an additional 192,543 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.30% of SkyWest worth $52,641,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new position in shares of SkyWest during the 4th quarter valued at approximately $39,000. Norges Bank purchased a new position in SkyWest in the fourth quarter valued at $23,851,000. JPMorgan Chase & Co. raised its position in shares of SkyWest by 6.2% in the fourth quarter. JPMorgan Chase & Co. now owns 379,563 shares of the transportation company’s stock worth $38,006,000 after acquiring an additional 22,053 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of SkyWest by 127.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 21,518 shares of the transportation company’s stock worth $2,155,000 after acquiring an additional 12,049 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of SkyWest during the 4th quarter valued at about $360,000. 81.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SkyWest

In other SkyWest news, CFO Robert J. Simmons sold 6,000 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $113.57, for a total value of $681,420.00. Following the completion of the sale, the chief financial officer now owns 175,067 shares in the company, valued at approximately $19,882,359.19. This represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Greg Wooley sold 14,545 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.73, for a total value of $1,537,842.85. Following the transaction, the vice president now owns 68,737 shares in the company, valued at approximately $7,267,563.01. This represents a 17.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

SkyWest Stock Up 0.8 %

Shares of NASDAQ SKYW opened at $88.10 on Wednesday. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 11.34 and a beta of 2.00. The company’s 50-day simple moving average is $100.69 and its 200-day simple moving average is $100.78. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. SkyWest, Inc. has a 52-week low of $64.61 and a 52-week high of $135.57.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same period in the previous year, the business posted $0.42 EPS. Equities analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Raymond James reiterated an “outperform” rating and set a $130.00 price target (up previously from $120.00) on shares of SkyWest in a research report on Friday, January 31st.

SkyWest Company Profile

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.