SkyWest, Inc. (NASDAQ:SKYW) Stake Lifted by Nicholas Investment Partners LP

Nicholas Investment Partners LP increased its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 82.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,272 shares of the transportation company’s stock after purchasing an additional 85,356 shares during the quarter. SkyWest makes up approximately 1.6% of Nicholas Investment Partners LP’s portfolio, making the stock its 9th biggest position. Nicholas Investment Partners LP owned approximately 0.47% of SkyWest worth $15,451,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. acquired a new position in SkyWest in the second quarter valued at $1,044,000. American Century Companies Inc. grew its stake in SkyWest by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock worth $94,510,000 after buying an additional 165,670 shares during the last quarter. Texas Permanent School Fund Corp increased its position in SkyWest by 19.1% during the second quarter. Texas Permanent School Fund Corp now owns 42,696 shares of the transportation company’s stock worth $3,504,000 after buying an additional 6,862 shares during the period. Choreo LLC purchased a new stake in SkyWest in the second quarter valued at approximately $221,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of SkyWest in the second quarter valued at approximately $221,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Down 0.3 %

SkyWest stock opened at $74.45 on Thursday. The stock has a 50 day moving average of $77.59 and a two-hundred day moving average of $74.45. SkyWest, Inc. has a twelve month low of $36.91 and a twelve month high of $87.86. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 26.88 and a beta of 1.95. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 1.02.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, July 25th. The transportation company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.09. The firm had revenue of $867.10 million during the quarter, compared to the consensus estimate of $826.56 million. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. As a group, research analysts expect that SkyWest, Inc. will post 6.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, TD Cowen lifted their target price on shares of SkyWest from $85.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.67.

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.