State of Alaska Department of Revenue Sells 745 Shares of SkyWest, Inc. (NASDAQ:SKYW)

State of Alaska Department of Revenue lessened its stake in SkyWest, Inc. (NASDAQ:SKYW) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,892 shares of the transportation company’s stock after selling 745 shares during the period. State of Alaska Department of Revenue owned 0.06% of SkyWest worth $1,946,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in SkyWest during the 3rd quarter worth about $226,000. Highland Capital Management LLC acquired a new stake in SkyWest during the 3rd quarter worth $223,000. International Assets Investment Management LLC grew its holdings in SkyWest by 8,402.9% during the 3rd quarter. International Assets Investment Management LLC now owns 2,891 shares of the transportation company’s stock worth $246,000 after acquiring an additional 2,857 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of SkyWest by 20.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,558 shares of the transportation company’s stock valued at $388,000 after purchasing an additional 767 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of SkyWest by 658.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,073 shares of the transportation company’s stock worth $431,000 after purchasing an additional 4,404 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

Analyst Ratings Changes

Separately, Raymond James lifted their price objective on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

SkyWest Stock Up 6.4 %

Shares of SkyWest stock opened at $101.33 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.84 and a quick ratio of 0.74. The business has a 50-day moving average of $84.34 and a two-hundred day moving average of $79.55. SkyWest, Inc. has a 1 year low of $41.96 and a 1 year high of $103.49. The company has a market capitalization of $4.06 billion, a P/E ratio of 23.90 and a beta of 1.95.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.24. SkyWest had a net margin of 5.55% and a return on equity of 8.18%. The company had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. During the same quarter in the prior year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. As a group, equities analysts predict that SkyWest, Inc. will post 6.88 EPS for the current year.

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.