Arrowstreet Capital Limited Partnership Increases Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Arrowstreet Capital Limited Partnership boosted its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 57.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 525,722 shares of the transportation company’s stock after purchasing an additional 192,543 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in SkyWest were worth $52,641,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Glenmede Trust Co. NA grew its holdings in shares of SkyWest by 0.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company’s stock worth $921,000 after purchasing an additional 98 shares during the period. Louisiana State Employees Retirement System boosted its stake in SkyWest by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the transportation company’s stock worth $1,953,000 after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of SkyWest by 1.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,495 shares of the transportation company’s stock valued at $951,000 after acquiring an additional 100 shares during the last quarter. Highland Capital Management LLC raised its stake in shares of SkyWest by 6.1% in the 4th quarter. Highland Capital Management LLC now owns 2,783 shares of the transportation company’s stock valued at $279,000 after acquiring an additional 160 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of SkyWest by 14.4% in the 4th quarter. GAMMA Investing LLC now owns 1,561 shares of the transportation company’s stock worth $156,000 after acquiring an additional 196 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Raymond James reiterated an “outperform” rating and issued a $130.00 target price (up previously from $120.00) on shares of SkyWest in a report on Friday, January 31st.

SkyWest Stock Up 0.8 %

Shares of NASDAQ:SKYW opened at $88.10 on Wednesday. The firm’s 50-day moving average is $100.69 and its two-hundred day moving average is $100.78. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. SkyWest, Inc. has a 1 year low of $64.61 and a 1 year high of $135.57. The firm has a market capitalization of $3.58 billion, a PE ratio of 11.34 and a beta of 2.00.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.59. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. During the same quarter in the prior year, the company posted $0.42 EPS. Analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Activity

In other SkyWest news, VP Greg Wooley sold 14,545 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the completion of the transaction, the vice president now owns 68,737 shares in the company, valued at $7,267,563.01. The trade was a 17.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert J. Simmons sold 6,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the completion of the sale, the chief financial officer now owns 175,067 shares in the company, valued at $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.