6,294 Shares in SkyWest, Inc. (NASDAQ:SKYW) Bought by Pitcairn Co.

Pitcairn Co. purchased a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) in the third quarter, HoldingsChannel.com reports. The firm purchased 6,294 shares of the transportation company’s stock, valued at approximately $535,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in shares of SkyWest by 50.8% during the 3rd quarter. Citigroup Inc. now owns 61,565 shares of the transportation company’s stock worth $5,234,000 after purchasing an additional 20,752 shares during the period. Charles Schwab Investment Management Inc. grew its stake in SkyWest by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock worth $58,051,000 after buying an additional 76,007 shares during the period. Navellier & Associates Inc. acquired a new stake in shares of SkyWest in the third quarter worth $1,046,000. Massachusetts Financial Services Co. MA raised its stake in shares of SkyWest by 5.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 52,163 shares of the transportation company’s stock valued at $4,435,000 after acquiring an additional 2,785 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of SkyWest by 56.3% during the 3rd quarter. Intech Investment Management LLC now owns 18,832 shares of the transportation company’s stock valued at $1,601,000 after acquiring an additional 6,781 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Stock Up 2.0 %

Shares of NASDAQ SKYW opened at $114.19 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. SkyWest, Inc. has a 1 year low of $45.42 and a 1 year high of $116.47. The stock’s 50-day simple moving average is $95.13 and its 200-day simple moving average is $83.83. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 19.52 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.24. The company had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. SkyWest’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. As a group, equities analysts anticipate that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total value of $1,993,373.92. Following the completion of the transaction, the insider now directly owns 97,654 shares in the company, valued at approximately $10,202,889.92. This trade represents a 16.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Eric Woodward sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the completion of the sale, the chief accounting officer now owns 44,426 shares of the company’s stock, valued at $4,954,831.78. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,467 shares of company stock worth $10,082,596. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

SKYW has been the subject of several recent research reports. TD Cowen increased their price target on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $119.00 target price on shares of SkyWest in a report on Friday, November 15th. Finally, Raymond James upped their price target on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SkyWest presently has an average rating of “Moderate Buy” and an average price target of $105.75.

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.