Cooper Financial Group Acquires Shares of 2,343 SkyWest, Inc. (NASDAQ:SKYW)

Cooper Financial Group bought a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,343 shares of the transportation company’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SKYW. NBC Securities Inc. increased its position in SkyWest by 1,368.0% during the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after acquiring an additional 342 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of SkyWest during the third quarter worth approximately $31,000. GAMMA Investing LLC increased its holdings in shares of SkyWest by 47.1% during the third quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock worth $116,000 after purchasing an additional 437 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of SkyWest in the third quarter valued at approximately $158,000. Finally, Millburn Ridgefield Corp bought a new stake in shares of SkyWest in the third quarter valued at approximately $168,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. The Goldman Sachs Group restated a “neutral” rating and set a $119.00 price objective on shares of SkyWest in a research note on Friday, November 15th. Raymond James raised their price target on SkyWest from $114.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, December 30th. Finally, TD Cowen upped their price objective on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.25.

SkyWest Price Performance

SkyWest stock opened at $109.00 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. SkyWest, Inc. has a 52 week low of $48.28 and a 52 week high of $117.51. The stock has a market capitalization of $4.40 billion, a P/E ratio of 18.63 and a beta of 1.98. The stock has a fifty day moving average of $108.30 and a 200-day moving average of $91.57.

SkyWest (NASDAQ:SKYW) last released its 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. The firm had revenue of $912.79 million for the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 earnings per share. On average, sell-side analysts expect that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Wade J. Steel sold 19,079 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were 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 directly owns 97,654 shares in the company, valued at approximately $10,202,889.92. This represents a 16.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the chief accounting officer now owns 44,426 shares of the company’s stock, 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 sold a total of 92,467 shares of company stock worth $10,082,596 in the last three months. 2.00% of the stock is owned by corporate insiders.

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.