The SkyWest, Inc. (SKYW) Stake Increased by Highbridge Capital Management LLC, Report finds

The SkyWest, Inc. (SKYW) Stake Increased by Highbridge Capital Management LLC, Report finds

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System raised its stake in SkyWest by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the company’s stock valued at $603,000 after buying an additional 200 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in SkyWest during the second quarter valued at approximately $1,521,000. Anchor Capital Advisors LLC raised its stake in SkyWest by 0.6% in the second quarter. Anchor Capital Advisors LLC now owns 42,000 shares of the company’s stock valued at $1,111,000 after buying an additional 257 shares in the last quarter. Towle & Co. raised its stake in SkyWest by 0.5% in the second quarter. Towle & Co. now owns 1,355,699 shares of the company’s stock valued at $35,872,000 after buying an additional 6,110 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in SkyWest by 6.1% in the second quarter. Principal Financial Group Inc. now owns 372,383 shares of the company’s stock valued at $9,853,000 after buying an additional 21,393 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.

Highbridge Capital Management LLC increased its stake in SkyWest, Inc. (NASDAQ:SKYW) by 479.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,572 shares of the company’s stock after buying an additional 67,672 shares during the period. Highbridge Capital Management LLC owned approximately 0.10% of SkyWest worth $1,415,000 at the end of the most recent reporting period.

SkyWest, Inc. (NASDAQ:SKYW) traded up 6.61% during trading on Thursday, reaching $35.50. 603,680 shares of the company’s stock were exchanged. SkyWest, Inc. has a 52 week low of $14.73 and a 52 week high of $39.60. The company’s 50 day moving average price is $36.34 and its 200-day moving average price is $31.95. The stock’s market capitalization is $1.84 billion.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, February 2nd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. SkyWest had a negative net margin of 5.18% and a positive return on equity of 9.35%. The business had revenue of $758.02 million for the quarter, compared to the consensus estimate of $754.18 million. During the same period in the previous year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities analysts expect that SkyWest, Inc. will post $3.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Friday, March 31st will be issued a $0.08 dividend. This is an increase from SkyWest’s previous quarterly dividend of $0.05. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Wednesday, March 29th. SkyWest’s payout ratio is presently -6.37%.

Several research firms have recently commented on SKYW. Cowen and Company increased their price target on shares of SkyWest from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, December 15th. Deutsche Bank AG raised their target price on shares of SkyWest from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, October 28th. Zacks Investment Research upgraded shares of SkyWest from a “sell” rating to a “hold” rating in a research report on Tuesday, November 1st. Evercore ISI lowered shares of SkyWest from a “buy” rating to a “hold” rating and raised their target price for the stock from $25.00 to $37.00 in a research report on Tuesday, December 6th. Finally, TheStreet lowered shares of SkyWest from a “b+” rating to a “c+” rating in a research report on Thursday, February 2nd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. SkyWest currently has an average rating of “Buy” and a consensus target price of $35.20.

In related news, Director Henry J. Eyring sold 6,267 shares of the business’s stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $11.49, for a total value of $72,007.83. Following the sale, the director now directly owns 35,549 shares in the company, valued at approximately $408,458.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.00% of the stock is owned by insiders.

About SkyWest

Skywest, Inc is a holding company for approximately two scheduled passenger airline operations and an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and ExpressJet. SkyWest Airlines provides regional jet and turboprop service to airports located in the Midwestern and Western United States.

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