Oppenheimer & Co. Inc. bought a new position in SkyWest, Inc. (NASDAQ:SKYW) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,912 shares of the transportation company’s stock, valued at approximately $267,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SKYW. Strs Ohio grew its stake in shares of SkyWest by 450.0% in the 4th quarter. Strs Ohio now owns 3,300 shares of the transportation company’s stock worth $175,000 after acquiring an additional 2,700 shares in the last quarter. Suntrust Banks Inc. bought a new position in SkyWest during the fourth quarter valued at about $218,000. HBK Investments L P bought a new position in SkyWest during the fourth quarter valued at about $218,000. Teacher Retirement System of Texas bought a new position in SkyWest during the fourth quarter valued at about $234,000. Finally, Ellington Management Group LLC bought a new position in SkyWest during the fourth quarter valued at about $271,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.
SkyWest opened at $57.85 on Friday, according to MarketBeat Ratings. The stock has a market cap of $2.91 billion, a P/E ratio of 16.87 and a beta of 1.70. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.14 and a quick ratio of 1.00. SkyWest, Inc. has a fifty-two week low of $56.10 and a fifty-two week high of $56.40.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Shareholders of record on Friday, June 29th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, June 28th. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. SkyWest’s dividend payout ratio is presently 11.66%.
SKYW has been the subject of several research reports. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Thursday, April 5th. Raymond James increased their price target on shares of SkyWest from $62.00 to $65.00 and gave the company a “strong-buy” rating in a research report on Wednesday, January 24th. BidaskClub lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Finally, Cowen increased their price target 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. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $61.20.
In other SkyWest news, CFO Robert J. Simmons sold 39,339 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $55.94, for a total transaction of $2,200,623.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Woodward sold 4,500 shares of the stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $56.90, for a total transaction of $256,050.00. The disclosure for this sale can be found here. Insiders have sold 49,639 shares of company stock valued at $2,781,474 in the last quarter. Company insiders own 3.50% of the company’s stock.
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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