SkyWest, Inc. (NASDAQ:SKYW) Holdings Lowered by Federated Hermes Inc.

Posted by on Aug 13th, 2023

Federated Hermes Inc. cut its stake in SkyWest, Inc. (NASDAQ:SKYW – Free Report) by 57.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,269 shares of the transportation company’s stock after selling 705,553 shares during the period. Federated Hermes Inc. owned approximately 1.08% of SkyWest worth $11,734,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Kopernik Global Investors LLC acquired a new stake in shares of SkyWest during the 4th quarter valued at $41,792,000. Russell Investments Group Ltd. acquired a new stake in SkyWest during the 4th quarter worth about $7,113,000. U S Global Investors Inc. lifted its stake in SkyWest by 12.7% during the fourth quarter. U S Global Investors Inc. now owns 3,513,646 shares of the transportation company’s stock valued at $58,010,000 after buying an additional 395,123 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of SkyWest by 1,409.6% in the first quarter. Renaissance Technologies LLC now owns 422,199 shares of the transportation company’s stock worth $12,180,000 after acquiring an additional 394,231 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of SkyWest by 187.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 484,357 shares of the transportation company’s stock valued at $13,974,000 after acquiring an additional 315,893 shares during the period. Institutional investors and hedge funds own 83.49% of the company’s stock.

SkyWest Trading Up 0.1 %

SKYW opened at $42.01 on Friday. The stock has a 50-day moving average of $40.10 and a 200-day moving average of $28.85. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 1.27. SkyWest, Inc. has a 52-week low of $14.76 and a 52-week high of $45.98.

SkyWest (NASDAQ:SKYW – Get Free Report) last announced its earnings results on Thursday, July 27th. The transportation company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.81. SkyWest had a positive return on equity of 1.82% and a negative net margin of 0.19%. The firm had revenue of $725.64 million during the quarter, compared to analysts’ expectations of $707.75 million. During the same quarter in the prior year, the business earned $1.07 earnings per share. The company’s revenue was down 9.2% on a year-over-year basis. Equities analysts forecast that SkyWest, Inc. will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on SKYW shares. StockNews.com assumed coverage on shares of SkyWest in a research report on Thursday, May 18th. They set a “hold” rating on the stock. TheStreet raised SkyWest from a “d+” rating to a “c-” rating in a research note on Wednesday, April 19th. Finally, Deutsche Bank Aktiengesellschaft raised SkyWest from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.33.

Read Our Latest Analysis on SKYW

SkyWest 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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Institutional Ownership by Quarter for SkyWest (NASDAQ:SKYW)

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