Edgestream Partners L.P. Invests $526,000 in SkyWest, Inc. (NASDAQ:SKYW)

Edgestream Partners L.P. acquired a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,185 shares of the transportation company’s stock, valued at approximately $526,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. NBC Securities Inc. boosted its holdings in shares of SkyWest by 1,368.0% during the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 342 shares during the period. Kings Path Partners LLC bought a new position in SkyWest in the 2nd quarter worth about $42,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in SkyWest in the 2nd quarter worth about $54,000. CWM LLC raised its holdings in shares of SkyWest by 57.3% during the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock valued at $63,000 after buying an additional 279 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of SkyWest by 45.9% during the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after buying an additional 292 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other SkyWest news, CFO Robert J. Simmons sold 16,485 shares of SkyWest stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $105.02, for a total value of $1,731,254.70. Following the transaction, the chief financial officer now directly owns 113,539 shares of the company’s stock, valued at $11,923,865.78. The trade was a 12.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Eric Woodward sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction 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 ninety days, insiders sold 92,467 shares of company stock worth $10,082,596. Corporate insiders own 2.00% of the company’s stock.

SkyWest Stock Down 0.1 %

Shares of SkyWest stock opened at $113.27 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. SkyWest, Inc. has a 1 year low of $47.32 and a 1 year high of $117.51. The stock has a 50-day moving average price of $100.97 and a 200 day moving average price of $86.05. The company has a market cap of $4.57 billion, a P/E ratio of 19.36 and a beta of 1.96.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.92 by $0.24. The business had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period last year, the company posted $0.55 earnings per share. As a group, analysts expect that SkyWest, Inc. will post 7.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on SKYW shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $119.00 target price on shares of SkyWest in a research note on Friday, November 15th. TD Cowen lifted their price objective on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Raymond James increased their target price 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

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.