American International Group Inc. lowered its position in SkyWest, Inc. (NASDAQ:SKYW) by 19.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,447 shares of the transportation company’s stock after selling 8,039 shares during the quarter. American International Group Inc. owned 0.06% of SkyWest worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in shares of SkyWest by 6.1% in the first quarter. Swiss National Bank now owns 22,600 shares of the transportation company’s stock valued at $1,229,000 after buying an additional 1,300 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in SkyWest during the 1st quarter valued at approximately $1,287,000. Victory Capital Management Inc. increased its position in SkyWest by 0.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,498,998 shares of the transportation company’s stock valued at $81,545,000 after purchasing an additional 10,587 shares during the period. RWC Asset Management LLP increased its position in SkyWest by 5.3% during the 1st quarter. RWC Asset Management LLP now owns 300,000 shares of the transportation company’s stock valued at $16,320,000 after purchasing an additional 15,000 shares during the period. Finally, Trexquant Investment LP acquired a new stake in SkyWest during the 1st quarter valued at approximately $536,000. 89.27% of the stock is owned by institutional investors.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of SkyWest from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Thursday, April 5th. Imperial Capital increased their target price on shares of SkyWest from $55.00 to $60.00 and gave the company a “line” rating in a research report on Monday, April 30th. Cowen increased their target price on shares of SkyWest from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, April 27th. Finally, BidaskClub raised shares of SkyWest from a “hold” rating to a “buy” rating in a research report on Thursday, April 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $61.20.
Shares of SKYW stock traded up $1.00 during trading hours on Thursday, hitting $56.25. 104,667 shares of the company were exchanged, compared to its average volume of 249,811. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 16.40 and a beta of 1.70. SkyWest, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $60.65. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 1.37.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, April 26th. The transportation company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.86 by $0.17. The company had revenue of $783.40 million during the quarter, compared to the consensus estimate of $767.41 million. SkyWest had a net margin of 13.92% and a return on equity of 12.52%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. analysts anticipate that SkyWest, Inc. will post 4.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Friday, June 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, June 28th. SkyWest’s dividend payout ratio (DPR) is 11.66%.
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.
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