Towle Co buys $30.7 Million stake in SkyWest (SKYW)

SkyWest (SKYW) : Towle Co scooped up 32,620 additional shares in SkyWest during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 1,349,589 shares of SkyWest which is valued at $30.7 Million.SkyWest makes up approximately 5.83% of Towle Co’s portfolio.

Other Hedge Funds, Including , Martingale Asset Management L P boosted its stake in SKYW in the latest quarter, The investment management firm added 1,900 additional shares and now holds a total of 76,298 shares of SkyWest which is valued at $1.7 Million. SkyWest makes up approx 0.03% of Martingale Asset Management L P’s portfolio.First Trust Advisors Lp reduced its stake in SKYW by selling 43,901 shares or 28.8% in the most recent quarter. The Hedge Fund company now holds 108,517 shares of SKYW which is valued at $2.5 Million. SkyWest makes up approx 0.01% of First Trust Advisors Lp’s portfolio.Tiaa Cref Investment Management reduced its stake in SKYW by selling 6,199 shares or 1.77% in the most recent quarter. The Hedge Fund company now holds 343,733 shares of SKYW which is valued at $8 Million. SkyWest makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio. Old Mutual Global Investors (uk) Ltd. added SKYW to its portfolio by purchasing 29,627 company shares during the most recent quarter which is valued at $685,569. SkyWest makes up approx 0.01% of Old Mutual Global Investors (uk) Ltd.’s portfolio.Clarivest Asset Management boosted its stake in SKYW in the latest quarter, The investment management firm added 4,875 additional shares and now holds a total of 108,818 shares of SkyWest which is valued at $2.6 Million. SkyWest makes up approx 0.08% of Clarivest Asset Management’s portfolio.

SkyWest opened for trading at $22.79 and hit $23.36 on the upside on Monday, eventually ending the session at $23.29, with a gain of 2.46% or 0.56 points. The heightened volatility saw the trading volume jump to 4,90,241 shares. Company has a market cap of $1,197 M.

On the company’s financial health, SkyWest reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.27 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.25. The company had revenue of $762.07 million for the quarter, compared to analysts expectations of $736.25 million. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Investors should note that on May 4, 2016, SkyWest announced a cash dividend of $0.0500. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 7, 2016.

Many Wall Street Analysts have commented on SkyWest. Company shares were Reiterated by Cowen on Apr 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 26 from a previous price target of $23 .

Skywest Inc. is a holding company for two North American regional airlines. The Company through its subsidiaries SkyWest Airlines Inc. and ExpressJet Airlines Inc. offers scheduled passenger service with approximately 3600 daily departures to destinations in the United States Canada Mexico and the Caribbean. The Company operates through two segments: SkyWest Airlines and ExpressJet. The Company’s flights are operated as Delta Connection United Express US Airways Express American Eagle and Alaska. As of December 31 2014 its consolidated fleet consisted of a total of 749 aircrafts of which 425 were assigned to United 239 were assigned to Delta 29 were assigned to American 15 were assigned to US Airways nine were assigned to Alaska two were subleased to unaffiliated entities and 30 were removed from service. The Company operates two types of regional jet aircrafts: the Bombardier Aerospace (Bombardier) regional jet and the Embraer S.A. (Embraer) regional jet.

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