Maryland State Retirement And Pension System Reduces Holdings In SkyWest, Inc. (NASDAQ:SKYW)

State Of Maryland Retirement And Retirement System decreased its position in SkyWest, Inc. (NASDAQ:SKYW – Free Report) by 4.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,037 shares of the transportation company’s stock after selling 717 shares during the period. State of Maryland Pension & Retirement System’s holdings in SkyWest were worth $1,152,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in shares of SkyWest in the fourth quarter valued at approximately $29,000. Victory Capital Management Inc. boosted its stake in SkyWest by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 20,296 shares of the transportation company’s stock valued at $1,059,000 after purchasing an additional 1,266 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in SkyWest in the 4th quarter valued at $313,000. M&T Bank Corp bought a new stake in shares of SkyWest in the fourth quarter valued at $227,000. Finally, LSV Asset Management boosted its stake in SkyWest by 1,006.9% in the fourth quarter. LSV Asset Management now owns 32,100 shares of the transportation company’s stock worth $1,676,000 after purchasing an additional 29,200 shares in the last quarter. 81.30% of the shares are owned by hedge funds and other institutional investors.

Insiders place their bets

In other news, Director James L. Welch sold 7,605 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $78.68, for a total transaction of $598,361.40. Following the completion of the sale, the director now owns 48,462 shares of the company’s stock, valued at approximately $3,812,990.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other SkyWest news, VP Greg Wooley sold 7,415 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $81.27, for a total value of $602,617.05. Following the transaction, the vice president now directly owns 59,058 shares in the company, valued at $4,799,643.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, Director James L. Welch sold 7,605 shares of SkyWest stock in a transaction on Friday, June 7th. The shares were sold at an average price of $78.68, for a total transaction of $598,361.40. Following the transaction, the director now owns 48,462 shares in the company, valued at approximately $3,812,990.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,020 shares of company stock worth $1,761,938. Insiders own 2.00% of the company’s shares.

Analysts set new price targets

Separately, TD Cowen boosted their price objective on SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.67, according to MarketBeat.com.

See our latest report on SkyWest

SkyWest trading up 2.2%

Shares of SKYW stock opened at $77.54 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.74, and a debt-to-equity ratio of 1.02. SkyWest, Inc. has a 12-month low of $36.91 and a 12-month high of $87.86. The stock has a market cap of $3.11 billion, a P/E ratio of 27.99 and a beta of 1.96. The company’s 50-day moving average is $78.56 and its 200-day moving average is $73.57.

SkyWest (NASDAQ:SKYW – Get Your Free Report ) last released its quarterly earnings results on Thursday, July 25th. The transportation company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 8.18% and a net margin of 5.55%. The company’s revenue for the quarter was up 19.5% year over year. During the same period last year, the business posted EPS of $0.35. Research analysts expect that SkyWest, Inc. to post 6.88 earnings per share for the current year.

SkyWest profile

(Free report)

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest Airlines provides commercial air service to cities across 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.

Further reading

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