ClearAlpha Technologies LP Acquires Shares of 6,113 SkyWest, Inc. (NASDAQ:SKYW)

ClearAlpha Technologies LP bought a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the third quarter, Holdings Channel reports. The institutional investor bought 6,113 shares of the transportation company’s stock, valued at approximately $520,000.

Other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. raised its stake in shares of SkyWest by 1,368.0% in the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 342 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of SkyWest in the second quarter valued at about $42,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of SkyWest during the second quarter worth approximately $54,000. CWM LLC lifted its holdings in SkyWest by 57.3% during the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after buying an additional 279 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of SkyWest by 45.9% during the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock worth $76,000 after acquiring an additional 292 shares during the last quarter. 81.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total value of $1,993,373.92. Following the sale, the insider now owns 97,654 shares of the company’s stock, valued at $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert J. Simmons sold 16,485 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total transaction of $1,731,254.70. Following the completion of the transaction, the chief financial officer now directly owns 113,539 shares of the company’s stock, valued at approximately $11,923,865.78. This trade represents a 12.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,467 shares of company stock worth $10,082,596. Company insiders own 2.00% of the company’s stock.

SkyWest Trading Up 0.7 %

NASDAQ:SKYW opened at $114.74 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. SkyWest, Inc. has a 1-year low of $45.99 and a 1-year high of $117.51. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 19.61 and a beta of 1.93. The business’s 50-day moving average price is $98.54 and its two-hundred day moving average price is $85.15.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The company had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. During the same quarter in the previous year, the business earned $0.55 EPS. The firm’s revenue was up 19.1% on a year-over-year basis. On average, equities analysts expect that SkyWest, Inc. will post 7.16 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on SKYW shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a research report on Friday, November 15th. TD Cowen lifted their price target on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Raymond James boosted their price target on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, SkyWest currently has an average rating of “Moderate Buy” and an average price target of $105.75.

SkyWest 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.