Kennedy Capital Management LLC Trims Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Kennedy Capital Management LLC reduced its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,523 shares of the transportation company’s stock after selling 699 shares during the period. Kennedy Capital Management LLC’s holdings in SkyWest were worth $658,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SKYW. Quest Partners LLC purchased a new position in SkyWest in the fourth quarter worth $26,000. GAMMA Investing LLC purchased a new stake in SkyWest during the fourth quarter valued at about $29,000. Strs Ohio purchased a new stake in shares of SkyWest during the fourth quarter worth about $36,000. Transcendent Capital Group LLC purchased a new stake in shares of SkyWest during the fourth quarter worth about $52,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of SkyWest during the fourth quarter worth about $60,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen increased their price target on shares of SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Evercore ISI raised their target price on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $76.67.

SkyWest Trading Up 3.0 %

Shares of SkyWest stock opened at $79.94 on Thursday. The company’s fifty day simple moving average is $80.12 and its 200-day simple moving average is $70.63. The stock has a market capitalization of $3.21 billion, a PE ratio of 28.86 and a beta of 1.96. SkyWest, Inc. has a 1-year low of $36.91 and a 1-year high of $87.86. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.72.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.73 by $0.09. The firm had revenue of $867.10 million for the quarter, compared to the consensus estimate of $826.56 million. SkyWest had a net margin of 5.55% and a return on equity of 8.18%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. As a group, equities analysts anticipate that SkyWest, Inc. will post 6.88 earnings per share for the current year.

Insider Buying and Selling at SkyWest

In other news, CAO Eric Woodward sold 5,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $80.56, for a total value of $402,800.00. Following the sale, the chief accounting officer now directly owns 48,426 shares in the company, valued at approximately $3,901,198.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director James L. Welch sold 2,000 shares of SkyWest stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $79.08, for a total transaction of $158,160.00. Following the completion of the transaction, the director now directly owns 46,462 shares of the company’s stock, valued at approximately $3,674,214.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Eric Woodward sold 5,000 shares of SkyWest stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $80.56, for a total transaction of $402,800.00. Following the transaction, the chief accounting officer now directly owns 48,426 shares of the company’s stock, valued at $3,901,198.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,290 shares of company stock worth $7,282,611. Insiders own 2.00% of the company’s stock.

SkyWest 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.