Barclays PLC Purchases 129,901 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Barclays PLC raised its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 563.8% in the third quarter, HoldingsChannel.com reports. The firm owned 152,940 shares of the transportation company’s stock after buying an additional 129,901 shares during the period. Barclays PLC’s holdings in SkyWest were worth $13,002,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SKYW. Pitcairn Co. bought a new stake in shares of SkyWest during the third quarter worth about $535,000. Nicholas Investment Partners LP increased its holdings in SkyWest by 82.9% during the 2nd quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock worth $15,451,000 after purchasing an additional 85,356 shares in the last quarter. Acadian Asset Management LLC bought a new stake in SkyWest during the 2nd quarter worth approximately $520,000. Cornercap Investment Counsel Inc. purchased a new stake in shares of SkyWest in the second quarter worth approximately $1,044,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of SkyWest by 90.2% in the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after purchasing an additional 261,349 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Insiders Place Their Bets

In other news, insider Wade J. Steel sold 19,079 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the transaction, the insider now owns 97,654 shares in the company, valued at approximately $10,202,889.92. This represents a 16.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Eric Woodward sold 4,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $4,954,831.78. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,467 shares of company stock valued at $10,082,596. Company insiders own 2.00% of the company’s stock.

SkyWest Stock Down 0.6 %

SKYW stock opened at $106.60 on Monday. The stock has a market cap of $4.30 billion, a P/E ratio of 18.22 and a beta of 1.96. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock’s fifty day simple moving average is $103.76 and its two-hundred day simple moving average is $87.63. SkyWest, Inc. has a 1-year low of $48.28 and a 1-year high of $117.51.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The company had revenue of $912.79 million for the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business’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 posted $0.55 EPS. Analysts expect that SkyWest, Inc. will post 7.16 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen upped their price target on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a research note on Friday, November 15th. Finally, Raymond James raised their price target on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $105.75.

About SkyWest

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.