Wade Steel Sells 7,371 Shares of SkyWest (NASDAQ:SKYW) Stock

SkyWest, Inc. (NASDAQ:SKYW) insider Wade Steel sold 7,371 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $107.56, for a total value of $792,824.76. Following the sale, the insider owned 98,067 shares of the company’s stock, valued at approximately $10,548,086.52. This trade represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

SkyWest Stock Performance

Shares of NASDAQ:SKYW opened at $103.23 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.61. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $123.94. The firm has a market capitalization of $4.17 billion, a PE ratio of 9.97, a P/E/G ratio of 0.68 and a beta of 1.65. The business’s 50 day moving average price is $101.77 and its 200-day moving average price is $103.91.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, January 29th. The transportation company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $993.12 million. During the same period in the prior year, the company posted $2.34 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SKYW. Fuller & Thaler Asset Management Inc. raised its position in SkyWest by 27.5% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,184,956 shares of the transportation company’s stock valued at $118,981,000 after purchasing an additional 255,408 shares during the period. Allianz Asset Management GmbH raised its holdings in SkyWest by 214.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 251,760 shares of the transportation company’s stock valued at $25,332,000 after buying an additional 171,704 shares during the period. Millennium Management LLC lifted its position in SkyWest by 90.6% in the third quarter. Millennium Management LLC now owns 351,149 shares of the transportation company’s stock valued at $35,333,000 after buying an additional 166,926 shares during the last quarter. Vanguard Group Inc. boosted its stake in SkyWest by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 4,966,485 shares of the transportation company’s stock worth $498,685,000 after buying an additional 152,863 shares during the period. Finally, EP Wealth Advisors LLC purchased a new position in SkyWest during the fourth quarter worth about $13,825,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SKYW shares. Cantor Fitzgerald set a $122.00 price objective on shares of SkyWest in a research note on Monday, January 26th. Wall Street Zen lowered SkyWest from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Citigroup began coverage on SkyWest in a research report on Thursday, December 4th. They set a “neutral” rating and a $112.00 price objective on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Finally, TD Cowen cut their target price on SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.83.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.