Mutual of America Capital Management LLC Cuts Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Mutual of America Capital Management LLC lowered its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 8.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,032 shares of the transportation company’s stock after selling 586 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SkyWest were worth $513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Royce & Associates LP lifted its position in shares of SkyWest by 123.0% during the 3rd quarter. Royce & Associates LP now owns 15,571 shares of the transportation company’s stock worth $1,324,000 after buying an additional 8,587 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of SkyWest during the third quarter valued at approximately $371,000. Assetmark Inc. lifted its holdings in SkyWest by 12.4% during the third quarter. Assetmark Inc. now owns 19,324 shares of the transportation company’s stock worth $1,643,000 after acquiring an additional 2,138 shares during the period. CWA Asset Management Group LLC purchased a new position in SkyWest in the third quarter worth $628,000. Finally, Summit Global Investments bought a new position in SkyWest in the 3rd quarter valued at $539,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Raymond James increased their price target on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Cowen increased their target price on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SkyWest presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Insider Buying and Selling

In other news, CEO Russell A. Childs sold 27,903 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the sale, the chief executive officer now owns 349,548 shares of the company’s stock, valued at $38,964,115.56. This trade represents a 7.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Eric Woodward sold 4,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the transaction, the chief accounting officer now directly owns 44,426 shares in the company, valued at $4,954,831.78. The trade was a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,467 shares of company stock valued at $10,082,596 over the last ninety days. Company insiders own 2.00% of the company’s stock.

SkyWest Price Performance

Shares of SkyWest stock opened at $115.11 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76. SkyWest, Inc. has a one year low of $45.42 and a one year high of $116.47. The business’s 50 day simple moving average is $95.82 and its two-hundred day simple moving average is $84.09. The stock has a market capitalization of $4.64 billion, a P/E ratio of 19.52 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $896.21 million. During the same quarter in the previous year, the business earned $0.55 EPS. SkyWest’s revenue was up 19.1% compared to the same quarter last year. Analysts forecast 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.