Hanson & Doremus Investment Management reduced its stake in shares of SkyWest Inc. (NASDAQ:SKYW) by 6.0% during the second quarter, Holdings Channel reports. The institutional investor owned 31,085 shares of the company’s stock after selling 1,970 shares during the period. Hanson & Doremus Investment Management’s holdings in SkyWest were worth $823,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Chicago Equity Partners LLC bought a new position in SkyWest during the second quarter worth about $1,521,000. Gargoyle Investment Advisor L.L.C. bought a new position in SkyWest during the second quarter worth about $519,000. Louisiana State Employees Retirement System increased its position in SkyWest by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 22,800 shares of the company’s stock worth $603,000 after buying an additional 200 shares during the period. Bank of Montreal Can bought a new position in SkyWest during the second quarter worth about $172,000. Finally, New York State Teachers Retirement System increased its position in SkyWest by 3.5% in the second quarter. New York State Teachers Retirement System now owns 140,271 shares of the company’s stock worth $3,712,000 after buying an additional 4,800 shares during the period. Institutional investors own 86.16% of the company’s stock.
Shares of SkyWest Inc. (NASDAQ:SKYW) traded down 2.60% during trading on Friday, hitting $28.15. The stock had a trading volume of 116,484 shares. SkyWest Inc. has a 52-week low of $13.23 and a 52-week high of $29.87. The stock has a 50 day moving average of $27.66 and a 200 day moving average of $25.35. The firm has a market cap of $1.45 billion, a PE ratio of 10.15 and a beta of 1.73.
SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.67 by $0.10. The firm earned $801.34 million during the quarter, compared to the consensus estimate of $764.04 million. SkyWest had a net margin of 4.63% and a return on equity of 8.47%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. On average, equities analysts anticipate that SkyWest Inc. will post $2.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 30th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Wednesday, September 28th. SkyWest’s dividend payout ratio (DPR) is 7.19%.
A number of equities analysts have issued reports on SKYW shares. Deutsche Bank AG lifted their price target on SkyWest from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Zacks Investment Research downgraded SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Five research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $28.40.
In related news, CEO Russell A. Childs sold 21,516 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $28.79, for a total value of $619,445.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Henry J. Eyring sold 6,267 shares of the stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $11.49, for a total transaction of $72,007.83. Following the completion of the transaction, the director now directly owns 35,549 shares of the company’s stock, valued at $408,458.01. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
Skywest, Inc is a holding company for approximately two scheduled passenger airline operations and an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and ExpressJet. SkyWest Airlines provides regional jet and turboprop service to airports located in the Midwestern and Western United States.