Jacobs Levy Equity Management Inc. Has $708,000 Position in SkyWest, Inc. (NASDAQ:SKYW) (2024)

Jacobs Levy Equity Management Inc. reduced its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 48.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 10,252 shares of the transportation company's stock after selling 9,827 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in SkyWest were worth $708,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its holdings in shares of SkyWest by 22.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,101 shares of the transportation company's stock worth $110,000 after acquiring an additional 381 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of SkyWest by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,834 shares of the transportation company's stock valued at $2,475,000 after purchasing an additional 482 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of SkyWest in the 4th quarter valued at $26,000. GAMMA Investing LLC acquired a new stake in shares of SkyWest in the 4th quarter valued at $29,000. Finally, ProShare Advisors LLC raised its holdings in shares of SkyWest by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,180 shares of the transportation company's stock valued at $565,000 after purchasing an additional 562 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SkyWest news, CAO Eric Woodward sold 5,000 shares of the firm's stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $80.56, for a total transaction of $402,800.00. Following the transaction, the chief accounting officer now directly owns 48,426 shares of the company's stock, valued at approximately $3,901,198.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Eric Woodward sold 5,000 shares of the firm's stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $80.56, for a total value of $402,800.00. Following the completion of the sale, the chief accounting officer now owns 48,426 shares in the company, valued at approximately $3,901,198.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Russell A. Childs sold 32,286 shares of the firm's stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $77.05, for a total transaction of $2,487,636.30. Following the completion of the sale, the chief executive officer now owns 377,451 shares of the company's stock, valued at approximately $29,082,599.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,290 shares of company stock valued at $7,282,611. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Separately, TD Cowen raised their price objective 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 analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, SkyWest has a consensus rating of "Moderate Buy" and a consensus target price of $76.67.

Get Our Latest Stock Analysis on SKYW

SkyWest Stock Down 5.8 %

Shares of NASDAQ SKYW traded down $4.41 during mid-day trading on Friday, reaching $71.81. The company had a trading volume of 459,446 shares, compared to its average volume of 406,557. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 1.02. The firm has a 50 day simple moving average of $80.11 and a two-hundred day simple moving average of $70.82. The stock has a market cap of $2.88 billion, a P/E ratio of 25.92 and a beta of 1.96. SkyWest, Inc. has a 52-week low of $36.91 and a 52-week high of $87.86.

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

SkyWest Company Profile

(Free Report)

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.

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