Meeder Asset Management Inc. Invests $417,000 in SkyWest, Inc. (NASDAQ:SKYW)

Meeder Asset Management Inc. bought a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,164 shares of the transportation company’s stock, valued at approximately $417,000.

Several other institutional investors have also recently added to or reduced their stakes in SKYW. O Shaughnessy Asset Management LLC lifted its position in SkyWest by 29.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 48,217 shares of the transportation company’s stock valued at $4,828,000 after acquiring an additional 10,985 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new stake in shares of SkyWest in the 4th quarter valued at about $170,000. Arrowstreet Capital Limited Partnership boosted 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 period. New Age Alpha Advisors LLC purchased a new position in SkyWest during the 4th quarter worth approximately $39,000. Finally, Norges Bank acquired a new position in SkyWest during the fourth quarter worth approximately $23,851,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James reissued an “outperform” rating and issued a $130.00 price objective (up from $120.00) on shares of SkyWest in a report on Friday, January 31st.

SkyWest Price Performance

Shares of SKYW opened at $87.37 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. SkyWest, Inc. has a fifty-two week low of $64.61 and a fifty-two week high of $135.57. The firm has a 50-day simple moving average of $101.23 and a 200-day simple moving average of $100.71. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 11.24 and a beta of 2.00.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business posted $0.42 earnings per share. On average, equities research analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Greg Wooley sold 14,545 shares of the 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 completion of the transaction, the vice president now directly owns 68,737 shares of the company’s stock, valued at $7,267,563.01. This represents a 17.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Robert J. Simmons sold 6,000 shares of SkyWest stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $113.57, for a total value of $681,420.00. Following the completion of 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 position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

About SkyWest

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.