Empowered Funds LLC Lowers Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Empowered Funds LLC trimmed its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 20.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 138,286 shares of the transportation company’s stock after selling 34,968 shares during the period. Empowered Funds LLC’s holdings in SkyWest were worth $13,847,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in shares of SkyWest by 0.7% during the third quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock worth $81,697,000 after buying an additional 6,542 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of SkyWest by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock worth $58,051,000 after buying an additional 76,007 shares during the period. FMR LLC boosted its position in shares of SkyWest by 42.2% during the third quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock worth $41,162,000 after buying an additional 143,661 shares during the period. JPMorgan Chase & Co. boosted its position in shares of SkyWest by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 357,510 shares of the transportation company’s stock worth $30,396,000 after buying an additional 11,169 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of SkyWest by 9.1% during the third quarter. Principal Financial Group Inc. now owns 216,574 shares of the transportation company’s stock worth $18,413,000 after buying an additional 18,047 shares during the period. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Stock Up 0.5 %

SKYW opened at $116.76 on Friday. The business’s 50-day simple moving average is $109.24 and its 200-day simple moving average is $95.38. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.78. SkyWest, Inc. has a one year low of $57.15 and a one year high of $135.57. The stock has a market capitalization of $4.71 billion, a P/E ratio of 15.03 and a beta of 1.98.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same quarter in the previous year, the company earned $0.42 EPS. Analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current year.

Analyst Ratings Changes

SKYW has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a report on Friday, November 15th. TD Cowen raised their price target on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Raymond James restated an “outperform” rating and issued a $130.00 price target (up from $120.00) on shares of SkyWest in a research note on Friday, January 31st.

About SkyWest

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.