Migdal Insurance & Financial Holdings Ltd. Buys New Position in SkyWest, Inc. (NASDAQ:SKYW)

Migdal Insurance & Financial Holdings Ltd. purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 663 shares of the transportation company’s stock, valued at approximately $54,000.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of SkyWest by 5,120.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,775 shares of the transportation company’s stock valued at $93,000 after acquiring an additional 1,741 shares during the last quarter. Strs Ohio bought a new stake in SkyWest in the 4th quarter valued at about $36,000. Handelsbanken Fonder AB lifted its stake in shares of SkyWest by 16.7% during the 4th quarter. Handelsbanken Fonder AB now owns 5,600 shares of the transportation company’s stock valued at $292,000 after buying an additional 800 shares in the last quarter. GAMMA Investing LLC bought a new position in SkyWest in the 4th quarter worth approximately $29,000. Finally, Anchor Capital Advisors LLC boosted its holdings in shares of SkyWest by 13.5% in the fourth quarter. Anchor Capital Advisors LLC now owns 26,618 shares of the transportation company’s stock worth $1,389,000 after acquiring an additional 3,172 shares during the period. 81.30% of the stock is currently owned by institutional investors.

SkyWest Trading Up 1.7 %

Shares of SKYW stock traded up $1.27 during mid-day trading on Friday, reaching $77.14. The stock had a trading volume of 26,449 shares, compared to its average volume of 419,840. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.02. The stock’s 50-day moving average price is $78.60 and its two-hundred day moving average price is $73.35. The firm has a market capitalization of $3.11 billion, a PE ratio of 27.39 and a beta of 1.96. SkyWest, Inc. has a 52-week low of $36.91 and a 52-week high of $87.86.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, July 25th. The transportation company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.09. The business had revenue of $867.10 million during the quarter, compared to analysts’ expectations of $826.56 million. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. Equities analysts expect that SkyWest, Inc. will post 6.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Greg Wooley sold 7,415 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.27, for a total value of $602,617.05. Following the completion of the transaction, the vice president now directly owns 59,058 shares in the company, valued at approximately $4,799,643.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other SkyWest news, VP Greg Wooley sold 7,415 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.27, for a total value of $602,617.05. Following the sale, the vice president now owns 59,058 shares in the company, valued at $4,799,643.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James L. Welch sold 2,000 shares of SkyWest stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $79.08, for a total transaction of $158,160.00. Following the transaction, the director now owns 46,462 shares of the company’s stock, valued at $3,674,214.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,020 shares of company stock worth $1,761,938. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, TD Cowen raised their price target on shares of SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.

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.