Menta Capital LLC acquired a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 58,764 shares of the transportation company’s stock, valued at approximately $2,063,000. Menta Capital LLC owned approximately 0.11% of SkyWest at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. United Services Automobile Association bought a new position in shares of SkyWest during the 1st quarter valued at about $421,000. Vanguard Group Inc. lifted its holdings in shares of SkyWest by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 5,788,450 shares of the transportation company’s stock valued at $198,255,000 after purchasing an additional 198,452 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of SkyWest by 2.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 481,156 shares of the transportation company’s stock valued at $16,480,000 after purchasing an additional 10,823 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in shares of SkyWest by 3,410.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 342,155 shares of the transportation company’s stock valued at $9,748,000 after purchasing an additional 332,407 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of SkyWest by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 759,204 shares of the transportation company’s stock valued at $26,648,000 after purchasing an additional 14,217 shares in the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.
Shares of SkyWest, Inc. (SKYW) opened at 41.90 on Thursday. The company has a 50-day moving average price of $36.23 and a 200-day moving average price of $35.67. SkyWest, Inc. has a 12 month low of $25.04 and a 12 month high of $42.25. The firm’s market cap is $2.17 billion.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $809.76 million for the quarter, compared to analyst estimates of $790.14 million. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. Analysts forecast that SkyWest, Inc. will post $3.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.32 annualized dividend and a yield of 0.76%. SkyWest’s payout ratio is currently -11.31%.
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Several research firms have recently weighed in on SKYW. Zacks Investment Research upgraded SkyWest from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday. Cowen and Company lifted their price objective on SkyWest from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Thursday, August 10th. ValuEngine upgraded SkyWest from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, BidaskClub cut SkyWest from a “hold” rating to a “sell” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $42.17.
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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