Insider Selling: SkyWest, Inc. (NASDAQ:SKYW) CFO Sells 6,000 Shares of Stock

SkyWest, Inc. (NASDAQ:SKYW) CFO Robert J. Simmons sold 6,000 shares of SkyWest stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $113.57, for a total value of $681,420.00. Following the transaction, the chief financial officer now directly owns 175,067 shares in the company, valued at approximately $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

SkyWest Stock Performance

Shares of NASDAQ SKYW traded up $0.66 during trading hours on Wednesday, reaching $110.82. The stock had a trading volume of 363,545 shares, compared to its average volume of 392,280. The firm has a 50-day moving average of $109.18 and a 200-day moving average of $95.97. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 14.26 and a beta of 1.98. SkyWest, Inc. has a fifty-two week low of $57.15 and a fifty-two week high of $135.57.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same quarter in the prior year, the business posted $0.42 earnings per share. Equities research analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on SKYW. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a research report on Friday, November 15th. Raymond James restated an “outperform” rating and set a $130.00 price objective (up from $120.00) on shares of SkyWest in a research note on Friday, January 31st. Finally, TD Cowen increased their price target on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Glenmede Trust Co. NA raised its holdings in shares of SkyWest by 0.9% during the third quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company’s stock worth $921,000 after acquiring an additional 98 shares in the last quarter. Louisiana State Employees Retirement System grew its position in SkyWest by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the transportation company’s stock worth $1,953,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in SkyWest by 1.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,495 shares of the transportation company’s stock worth $951,000 after buying an additional 100 shares in the last quarter. Highland Capital Management LLC grew its position in SkyWest by 6.1% during the fourth quarter. Highland Capital Management LLC now owns 2,783 shares of the transportation company’s stock worth $279,000 after buying an additional 160 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in SkyWest by 14.4% during the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the transportation company’s stock worth $156,000 after purchasing an additional 196 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

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.