Amalgamated Bank Sells 550 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Amalgamated Bank trimmed its stake in SkyWest, Inc. (NASDAQ:SKYW) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,760 shares of the transportation company’s stock after selling 550 shares during the period. Amalgamated Bank’s holdings in SkyWest were worth $1,000,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. NBC Securities Inc. raised its holdings in SkyWest by 1,368.0% in the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after purchasing an additional 342 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of SkyWest during the 2nd quarter worth approximately $42,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of SkyWest during the 2nd quarter worth approximately $54,000. CWM LLC lifted its position in SkyWest by 57.3% during the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock valued at $63,000 after acquiring an additional 279 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in SkyWest by 45.9% in the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after acquiring an additional 292 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SkyWest

In other SkyWest news, insider Wade J. Steel sold 19,079 shares of SkyWest stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the transaction, the insider now owns 97,654 shares in the company, valued at approximately $10,202,889.92. This trade represents a 16.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Eric Woodward sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total value of $446,120.00. Following the completion of the sale, the chief accounting officer now owns 44,426 shares in the company, valued at $4,954,831.78. The trade was a 8.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,467 shares of company stock worth $10,082,596. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

SKYW has been the topic of a number of recent analyst reports. Raymond James upped their price target on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen upped their target price on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.33.

SkyWest Stock Performance

Shares of SKYW opened at $110.81 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. The stock has a 50-day moving average of $90.28 and a two-hundred day moving average of $82.06. The stock has a market cap of $4.47 billion, a P/E ratio of 18.90 and a beta of 1.93. SkyWest, Inc. has a one year low of $44.71 and a one year high of $116.47.

SkyWest (NASDAQ:SKYW) last released its 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 firm had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue was up 19.1% compared to the same quarter last year. As a group, research analysts predict that SkyWest, Inc. will post 7.16 EPS for the current year.

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.