Insider Selling: SkyWest, Inc. (NASDAQ:SKYW) CEO Sells 27,903 Shares of Stock

SkyWest, Inc. (NASDAQ:SKYW) CEO Russell A. Childs sold 27,903 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total value of $3,110,347.41. Following the completion of the sale, the chief executive officer now directly owns 349,548 shares of the company’s stock, valued at approximately $38,964,115.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

SkyWest Stock Up 1.2 %

Shares of NASDAQ:SKYW opened at $112.90 on Friday. The stock’s 50-day moving average is $88.06 and its 200 day moving average is $81.22. The company has a market cap of $4.55 billion, a PE ratio of 19.30 and a beta of 1.93. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.74. SkyWest, Inc. has a 1 year low of $41.96 and a 1 year high of $115.03.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The company had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. During the same quarter last year, the firm posted $0.55 earnings per share. The firm’s revenue was up 19.1% on a year-over-year basis. Sell-side analysts anticipate that SkyWest, Inc. will post 7.16 EPS for the current year.

Institutional Investors Weigh In On SkyWest

Several hedge funds have recently made changes to their positions in SKYW. Allspring Global Investments Holdings LLC lifted its position in SkyWest by 13,737.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,214 shares of the transportation company’s stock valued at $153,000 after buying an additional 2,198 shares during the period. BNP Paribas Financial Markets boosted its stake in SkyWest by 140.5% during the first quarter. BNP Paribas Financial Markets now owns 59,692 shares of the transportation company’s stock worth $4,124,000 after acquiring an additional 34,867 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in SkyWest in the first quarter worth about $1,448,000. Texas Permanent School Fund Corp increased its stake in shares of SkyWest by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 35,834 shares of the transportation company’s stock valued at $2,475,000 after purchasing an additional 482 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of SkyWest during the first quarter valued at approximately $279,000. 81.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Raymond James boosted their price objective on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Cowen upped their price target on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, SkyWest presently has a consensus rating of “Moderate Buy” and an average price target of $101.33.

SkyWest Company Profile

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.