Oberweis Asset Management Inc. raised its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,673 shares of the transportation company’s stock after buying an additional 3,642 shares during the quarter. SkyWest accounts for approximately 1.3% of Oberweis Asset Management Inc.’s holdings, making the stock its 19th biggest holding. Oberweis Asset Management Inc. owned approximately 0.26% of SkyWest worth $6,033,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc boosted its stake in shares of SkyWest by 23.4% in the 4th quarter. AdvisorNet Financial Inc now owns 1,553 shares of the transportation company’s stock valued at $69,000 after purchasing an additional 295 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in SkyWest by 924.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,716 shares of the transportation company’s stock worth $160,000 after buying an additional 2,451 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in SkyWest by 17.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,153 shares of the transportation company’s stock worth $140,000 after buying an additional 458 shares in the last quarter. Paloma Partners Management Co acquired a new position in SkyWest during the 3rd quarter worth about $204,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in SkyWest during the 3rd quarter worth about $226,000. 90.41% of the stock is currently owned by hedge funds and other institutional investors.
SkyWest stock traded up $0.05 during trading hours on Friday, reaching $51.54. 151,217 shares of the company’s stock traded hands, compared to its average volume of 266,848. The company has a current ratio of 1.10, a quick ratio of 0.97 and a debt-to-equity ratio of 1.43. SkyWest, Inc. has a fifty-two week low of $42.38 and a fifty-two week high of $65.80. The company has a market cap of $2.64 billion, a PE ratio of 9.72 and a beta of 1.75.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Friday, March 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, March 28th. This is an increase from SkyWest’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. SkyWest’s dividend payout ratio is presently 7.55%.
In other SkyWest news, Director Jerry C. Atkin sold 19,500 shares of the company’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $56.00, for a total transaction of $1,092,000.00. Following the transaction, the director now directly owns 696,232 shares in the company, valued at approximately $38,988,992. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jerry C. Atkin sold 8,275 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $56.56, for a total transaction of $468,034.00. Following the transaction, the director now owns 697,957 shares in the company, valued at $39,476,447.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,775 shares of company stock worth $2,680,834. Corporate insiders own 3.60% of the company’s stock.
Several research analysts recently issued reports on SKYW shares. Zacks Investment Research reiterated a “hold” rating and set a $63.00 price target on shares of SkyWest in a research report on Thursday, November 15th. ValuEngine downgraded shares of SkyWest from a “hold” rating to a “sell” rating in a research report on Thursday, December 6th. BidaskClub downgraded shares of SkyWest from a “hold” rating to a “sell” rating in a research report on Saturday, December 8th. Imperial Capital upgraded shares of SkyWest from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $58.00 to $63.00 in a research report on Friday, December 21st. Finally, Cowen reiterated an “outperform” rating and set a $61.00 price target (down previously from $66.00) on shares of SkyWest in a research report on Thursday, January 10th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. SkyWest currently has a consensus rating of “Buy” and a consensus target price of $65.86.
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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