SkyWest, Inc. $SKYW Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 51.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,805 shares of the transportation company’s stock after selling 6,088 shares during the quarter. Maryland State Retirement & Pension System’s holdings in SkyWest were worth $584,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new stake in shares of SkyWest during the 3rd quarter valued at $38,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of SkyWest during the second quarter worth $40,000. Fifth Third Bancorp lifted its holdings in shares of SkyWest by 38.4% during the second quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 153 shares during the last quarter. Blue Trust Inc. boosted its position in shares of SkyWest by 478.6% in the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 469 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in SkyWest by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SKYW. Zacks Research lowered shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Raymond James Financial upgraded shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Wall Street Zen lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Cantor Fitzgerald set a $132.00 price objective on shares of SkyWest in a research report on Friday, October 31st. Finally, Citigroup assumed coverage on shares of SkyWest in a research note on Thursday, December 4th. They set a “neutral” rating and a $112.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.17.

SkyWest Stock Performance

SKYW stock opened at $104.02 on Friday. The firm has a 50 day simple moving average of $100.66 and a 200 day simple moving average of $105.31. SkyWest, Inc. has a 52 week low of $74.70 and a 52 week high of $135.57. The stock has a market cap of $4.17 billion, a P/E ratio of 9.93, a P/E/G ratio of 0.70 and a beta of 1.66. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.61 and a current ratio of 0.71.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.25. SkyWest had a net margin of 10.92% and a return on equity of 17.14%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. Research analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Transactions at SkyWest

In related news, Director Meredith Siegfried Madden sold 4,725 shares of SkyWest stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $106.54, for a total transaction of $503,401.50. Following the completion of the sale, the director owned 25,362 shares of the company’s stock, valued at approximately $2,702,067.48. This trade represents a 15.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

About SkyWest

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.