USA Financial Formulas Has $61,000 Holdings in SkyWest, Inc. (NASDAQ:SKYW)

USA Financial Formulas lessened its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 40.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 721 shares of the transportation company’s stock after selling 490 shares during the period. USA Financial Formulas’ holdings in SkyWest were worth $61,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SKYW. Pacer Advisors Inc. grew its holdings in SkyWest by 2.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock valued at $184,855,000 after buying an additional 51,180 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of SkyWest by 16.8% during the second quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock worth $94,510,000 after purchasing an additional 165,670 shares during the last quarter. SW Investment Management LLC raised its stake in shares of SkyWest by 13.2% during the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock valued at $49,242,000 after acquiring an additional 70,000 shares during the last quarter. Victory Capital Management Inc. raised its position in SkyWest by 90.2% during the 2nd quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock worth $45,225,000 after purchasing an additional 261,349 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of SkyWest by 27.7% in the second quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock worth $36,602,000 after acquiring an additional 96,830 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Stock Up 1.5 %

Shares of NASDAQ SKYW opened at $88.68 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.84 and a debt-to-equity ratio of 1.02. SkyWest, Inc. has a 12-month low of $36.91 and a 12-month high of $88.89. The company’s fifty day simple moving average is $77.79 and its 200 day simple moving average is $76.89. The firm has a market cap of $3.56 billion, a PE ratio of 20.92 and a beta of 1.95.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, July 25th. The transportation company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.09. The firm had revenue of $867.10 million for the quarter, compared to analyst estimates of $826.56 million. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. As a group, sell-side analysts forecast that SkyWest, Inc. will post 6.88 earnings per share for the current fiscal year.

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.