United Services Automobile Association purchased a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,280 shares of the transportation company’s stock, valued at approximately $421,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its stake in shares of SkyWest by 10.0% in the first quarter. Bank of Montreal Can now owns 3,675 shares of the transportation company’s stock valued at $126,000 after buying an additional 334 shares in the last quarter. Creative Planning purchased a new position in shares of SkyWest during the first quarter worth about $1,281,000. Highbridge Capital Management LLC boosted its position in shares of SkyWest by 253.3% in the fourth quarter. Highbridge Capital Management LLC now owns 189,269 shares of the transportation company’s stock worth $6,899,000 after buying an additional 135,697 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of SkyWest by 77.1% in the fourth quarter. Teachers Advisors LLC now owns 198,946 shares of the transportation company’s stock worth $7,252,000 after buying an additional 86,594 shares during the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of SkyWest during the fourth quarter worth about $245,000. Hedge funds and other institutional investors own 90.29% of the company’s stock.
Shares of SkyWest, Inc. (SKYW) traded down 0.66% on Friday, reaching $37.90. The company’s stock had a trading volume of 271,769 shares. SkyWest, Inc. has a 12-month low of $25.04 and a 12-month high of $39.85. The company’s market cap is $1.96 billion. The company’s 50 day moving average price is $36.40 and its 200 day moving average price is $35.52.
SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, April 27th. The transportation company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.13. The business had revenue of $765.42 million during the quarter, compared to the consensus estimate of $745.95 million. SkyWest had a negative net margin of 4.93% and a positive return on equity of 10.12%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Analysts forecast that SkyWest, Inc. will post $3.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 30th were paid a dividend of $0.08 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.32 annualized dividend and a yield of 0.84%. SkyWest’s dividend payout ratio is presently -10.63%.
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A number of equities analysts have issued reports on the company. UBS AG raised SkyWest from an “outperform” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Thursday, April 13th. TheStreet raised SkyWest from a “c+” rating to a “b-” rating in a research note on Monday, May 22nd. Deutsche Bank AG raised their target price on SkyWest from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Raymond James Financial, Inc. raised SkyWest from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, April 13th. Finally, ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and three have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $41.00.
SkyWest Company Profile
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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