27,957 SkyWest, Inc. $SKYW Shares Sold by U S Global Investors Inc.

U S Global Investors Inc. decreased its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,130 shares of the transportation company’s stock after selling 27,957 shares during the period. SkyWest makes up approximately 2.9% of U S Global Investors Inc.’s investment portfolio, making the stock its 6th biggest position. U S Global Investors Inc. owned 0.79% of SkyWest worth $29,573,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SKYW. Kings Path Partners LLC purchased a new stake in shares of SkyWest in the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd boosted its stake in SkyWest by 480.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock valued at $26,000 after buying an additional 216 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in SkyWest during the 1st quarter valued at approximately $26,000. Farther Finance Advisors LLC grew its holdings in SkyWest by 78.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 468 shares of the transportation company’s stock valued at $45,000 after buying an additional 206 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in SkyWest during the 2nd quarter valued at approximately $57,000. 81.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Greg Wooley sold 17,726 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $108.55, for a total transaction of $1,924,157.30. Following the transaction, the vice president owned 53,323 shares of the company’s stock, valued at approximately $5,788,211.65. The trade was a 24.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert Simmons sold 25,000 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $110.49, for a total value of $2,762,250.00. Following the sale, the chief financial officer owned 93,902 shares in the company, valued at $10,375,231.98. The trade was a 21.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 115,226 shares of company stock worth $12,855,192 in the last 90 days. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen decreased their price objective on SkyWest from $123.00 to $116.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of SkyWest in a research report on Wednesday, October 14th. Citigroup increased their target price on SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Cantor Fitzgerald set a $116.00 target price on shares of SkyWest in a report on Friday, October 2nd. Finally, The Goldman Sachs Group cut shares of SkyWest from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $126.00 to $115.00 in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $113.00.

SkyWest Trading Up 1.6%

SKYW opened at $95.73 on Friday. The firm has a market cap of $3.72 billion, a P/E ratio of 9.52, a P/E/G ratio of 1.37 and a beta of 1.47. SkyWest, Inc. has a 12 month low of $77.89 and a 12 month high of $117.72. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $97.69 and a 200 day moving average of $95.39.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, July 23rd. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.16). The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. SkyWest had a net margin of 9.78% and a return on equity of 14.58%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $2.91 earnings per share. As a group, research analysts forecast that SkyWest, Inc. will post 10.58 EPS for the current year.

SkyWest announced that its Board of Directors has authorized a stock buyback plan on Thursday, July 23rd that permits the company to buy back $250.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy up to 6.6% of its shares through open market purchases. Share repurchase plans are often an indication that the company’s board believes its shares are undervalued.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is an airline holding company that operates regional passenger air service in the United States. Its primary subsidiary, SkyWest Airlines, connects smaller and midsized communities with larger airline hubs and provides scheduled flights under capacity-purchase agreements with major airline partners.

SkyWest Airlines operates flights under the United Express, Delta Connection and Alaska Airlines brands, serving destinations throughout the United States and select locations in Canada, Mexico and the Bahamas.