Inceptionr LLC Takes Position in SkyWest, Inc. (NASDAQ:SKYW)

Inceptionr LLC purchased a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,625 shares of the transportation company’s stock, valued at approximately $463,000.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of SkyWest in the 3rd quarter worth $31,000. Private Trust Co. NA grew its holdings in shares of SkyWest by 157.1% in the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company’s stock worth $49,000 after acquiring an additional 300 shares during the last quarter. Sound Income Strategies LLC acquired a new position in shares of SkyWest in the 4th quarter worth $50,000. Jones Financial Companies Lllp grew its holdings in shares of SkyWest by 117.2% in the 4th quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company’s stock worth $83,000 after acquiring an additional 449 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of SkyWest by 193.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company’s stock worth $87,000 after acquiring an additional 569 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SKYW. The Goldman Sachs Group restated a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a report on Friday, November 15th. Raymond James reaffirmed an “outperform” rating and issued a $130.00 target price (up previously from $120.00) on shares of SkyWest in a research report on Friday, January 31st.

Insider Activity at SkyWest

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

SkyWest Stock Performance

Shares of SkyWest stock opened at $88.07 on Friday. The stock has a market cap of $3.55 billion, a PE ratio of 11.33 and a beta of 2.00. The business has a fifty day simple moving average of $107.05 and a 200-day simple moving average of $99.08. 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 12 month low of $64.30 and a 12 month high of $135.57.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, January 30th. The transportation company reported $2.34 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 firm earned $0.42 earnings per share. On average, sell-side analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

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.