Harvest Fund Management Co. Ltd Boosts Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Harvest Fund Management Co. Ltd lifted its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 391.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,480 shares of the transportation company’s stock after purchasing an additional 6,754 shares during the period. Harvest Fund Management Co. Ltd’s holdings in SkyWest were worth $849,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of SkyWest during the third quarter worth about $31,000. Private Trust Co. NA boosted its holdings in shares of SkyWest by 157.1% during the fourth quarter. Private Trust Co. NA now owns 491 shares of the transportation company’s stock worth $49,000 after purchasing an additional 300 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of SkyWest during the fourth quarter worth about $50,000. Jones Financial Companies Lllp boosted its holdings in shares of SkyWest by 117.2% during the fourth quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company’s stock worth $83,000 after purchasing an additional 449 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of SkyWest by 193.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company’s stock worth $87,000 after purchasing an additional 569 shares during the period. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SkyWest news, CFO Robert J. Simmons sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the completion of the transaction, the chief financial officer now owns 175,067 shares of the company’s stock, valued at approximately $19,882,359.19. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Greg Wooley sold 14,545 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the transaction, the vice president now directly owns 68,737 shares of the company’s stock, valued at $7,267,563.01. This represents a 17.46 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Raymond James reiterated an “outperform” rating and set a $130.00 target price (up from $120.00) on shares of SkyWest in a report on Friday, January 31st.

SkyWest Price Performance

SKYW stock opened at $90.39 on Friday. SkyWest, Inc. has a 1 year low of $64.61 and a 1 year high of $135.57. The company has a market cap of $3.65 billion, a P/E ratio of 11.63 and a beta of 2.00. The firm has a 50-day moving average of $103.69 and a 200 day moving average of $99.58. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.59. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. During the same period in the prior year, the company earned $0.42 earnings per share. On average, sell-side analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current year.

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.