Massachusetts Financial Services Co. MA Raises Position in SkyWest, Inc. (NASDAQ:SKYW)

Massachusetts Financial Services Co. MA grew its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 13.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 59,322 shares of the transportation company’s stock after buying an additional 7,159 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in SkyWest were worth $5,940,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wealthfront Advisers LLC acquired a new position in shares of SkyWest during the fourth quarter worth about $146,935,000. Norges Bank acquired a new position in SkyWest during the 4th quarter worth approximately $23,851,000. Arrowstreet Capital Limited Partnership increased its position in shares of SkyWest by 57.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 525,722 shares of the transportation company’s stock valued at $52,641,000 after purchasing an additional 192,543 shares during the last quarter. FMR LLC raised its holdings in shares of SkyWest by 42.2% in the 3rd quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock valued at $41,162,000 after purchasing an additional 143,661 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of SkyWest by 563.8% during the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock worth $13,002,000 after purchasing an additional 129,901 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insider Buying and Selling

In related news, VP Greg Wooley sold 14,545 shares of the stock in a transaction 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 completion of the sale, the vice president now owns 68,737 shares in the company, valued at $7,267,563.01. This represents a 17.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert J. Simmons sold 6,000 shares of SkyWest stock in a transaction 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 in the company, valued at approximately $19,882,359.19. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Raymond James dropped their target price on SkyWest from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. StockNews.com lowered SkyWest from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd.

SkyWest Trading Down 0.7 %

NASDAQ SKYW opened at $79.64 on Tuesday. The firm’s fifty day moving average price is $98.24 and its 200 day moving average price is $100.89. SkyWest, Inc. has a 12 month low of $64.61 and a 12 month high of $135.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 10.25 and a beta of 1.83.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business earned $0.42 EPS. On average, sell-side analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal 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.