Transcendent Capital Group LLC Invests $52,000 in SkyWest, Inc. (NASDAQ:SKYW)

Transcendent Capital Group LLC bought a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,000 shares of the transportation company’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SKYW. Quest Partners LLC acquired a new position in SkyWest during the fourth quarter valued at $26,000. GAMMA Investing LLC acquired a new position in shares of SkyWest in the fourth quarter worth about $29,000. Strs Ohio acquired a new position in shares of SkyWest in the fourth quarter worth about $36,000. Salem Investment Counselors Inc. acquired a new position in shares of SkyWest in the fourth quarter worth about $57,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of SkyWest in the fourth quarter worth about $60,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Price Performance

Shares of SKYW stock traded down $1.18 on Friday, reaching $76.78. 392,071 shares of the company were exchanged, compared to its average volume of 396,240. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 27.72 and a beta of 1.92. The business has a 50-day moving average price of $74.19 and a 200 day moving average price of $63.15. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.72 and a current ratio of 0.81. SkyWest, Inc. has a 1 year low of $36.91 and a 1 year high of $84.58.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, April 25th. The transportation company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.21. SkyWest had a net margin of 3.83% and a return on equity of 5.45%. The business had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $800.07 million. During the same quarter in the previous year, the company earned ($0.45) earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Equities research analysts forecast that SkyWest, Inc. will post 6.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SKYW. TD Cowen upped their price objective on shares of SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Evercore ISI upped their price objective on shares of SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Activity at SkyWest

In related news, Director James L. Welch sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $79.08, for a total transaction of $158,160.00. Following the completion of the sale, the director now owns 46,462 shares of the company’s stock, valued at approximately $3,674,214.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other SkyWest news, CEO Russell A. Childs sold 32,286 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $77.05, for a total value of $2,487,636.30. Following the transaction, the chief executive officer now directly owns 377,451 shares in the company, valued at approximately $29,082,599.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James L. Welch sold 2,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $79.08, for a total transaction of $158,160.00. Following the completion of the transaction, the director now owns 46,462 shares in the company, valued at $3,674,214.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,290 shares of company stock valued at $7,282,611. Corporate insiders own 2.00% of the company’s stock.

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.