SkyWest (NASDAQ:SKYW) Insider Sells $792,824.76 in Stock

SkyWest, Inc. (NASDAQ:SKYW) insider Wade Steel sold 7,371 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $107.56, for a total value of $792,824.76. Following the transaction, the insider owned 98,067 shares of the company’s stock, valued at approximately $10,548,086.52. This represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

SkyWest Trading Down 3.2%

Shares of SKYW stock traded down $3.36 on Thursday, hitting $101.95. The stock had a trading volume of 199,044 shares, compared to its average volume of 271,047. The company’s 50 day moving average price is $101.93 and its 200-day moving average price is $103.97. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $123.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.61. The firm has a market capitalization of $4.09 billion, a P/E ratio of 9.85, a P/E/G ratio of 0.72 and a beta of 1.65.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.04). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $993.12 million. SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 earnings per share. Analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Institutional Investors Weigh In On SkyWest

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Transamerica Financial Advisors LLC grew its holdings in shares of SkyWest by 273.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after purchasing an additional 197 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in SkyWest during the 3rd quarter worth approximately $38,000. Elevation Point Wealth Partners LLC purchased a new position in SkyWest during the 2nd quarter worth approximately $40,000. Johnson Financial Group Inc. acquired a new position in SkyWest during the third quarter worth approximately $62,000. Finally, EverSource Wealth Advisors LLC increased its position in SkyWest by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after buying an additional 339 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SKYW has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. Wall Street Zen downgraded SkyWest from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Cantor Fitzgerald set a $122.00 target price on shares of SkyWest in a report on Monday, January 26th. Citigroup assumed coverage on shares of SkyWest in a report on Thursday, December 4th. They set a “neutral” rating and a $112.00 price target for the company. Finally, TD Cowen reduced their price objective on shares of SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and a consensus target price of $123.83.

About SkyWest

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.