Guggenheim Capital LLC Invests $245,000 in SkyWest, Inc. (NASDAQ:SKYW)

Guggenheim Capital LLC acquired a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,447 shares of the transportation company’s stock, valued at approximately $245,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wealthfront Advisers LLC acquired a new stake in SkyWest in the fourth quarter valued at approximately $146,935,000. American Century Companies Inc. raised its position in shares of SkyWest by 7.5% in the fourth quarter. American Century Companies Inc. now owns 1,390,300 shares of the transportation company’s stock valued at $139,211,000 after purchasing an additional 97,108 shares during the period. Charles Schwab Investment Management Inc. increased its position in SkyWest by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 709,355 shares of the transportation company’s stock worth $71,028,000 after acquiring an additional 26,561 shares during the period. Invesco Ltd. raised its stake in SkyWest by 4.2% during the 4th quarter. Invesco Ltd. now owns 543,009 shares of the transportation company’s stock valued at $54,371,000 after purchasing an additional 21,637 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in SkyWest by 57.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 525,722 shares of the transportation company’s stock worth $52,641,000 after purchasing an additional 192,543 shares during 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, VP Greg Wooley sold 14,545 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 68,737 shares of the company’s stock, valued at approximately $7,267,563.01. This represents a 17.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert J. Simmons sold 6,000 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $113.57, for a total transaction of $681,420.00. Following the sale, the chief financial officer now directly owns 175,067 shares in the company, valued at $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. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SKYW shares. The Goldman Sachs Group upgraded shares of SkyWest from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $119.00 to $117.00 in a report on Tuesday, April 8th. Raymond James dropped their price objective on shares of SkyWest from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. Finally, StockNews.com downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, April 12th.

SkyWest Stock Performance

NASDAQ SKYW opened at $87.79 on Tuesday. The stock has a market cap of $3.57 billion, a P/E ratio of 11.30 and a beta of 1.83. The company’s 50-day simple moving average is $88.90 and its 200 day simple moving average is $100.87. SkyWest, Inc. has a twelve month low of $64.61 and a twelve month high of $135.57. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.38. The business had revenue of $948.46 million for the quarter, compared to analysts’ expectations of $946.13 million. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 earnings per share. As a group, research analysts forecast 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.