SkyWest (NASDAQ:SKYW) CFO Robert Simmons Sells 25,000 Shares of Stock

SkyWest, Inc. (NASDAQ:SKYW) CFO Robert Simmons sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $110.49, for a total value of $2,762,250.00. Following the transaction, the chief financial officer owned 93,902 shares of the company’s stock, valued at $10,375,231.98. This trade represents a 21.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

SkyWest Price Performance

Shares of SKYW opened at $106.97 on Friday. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 1.55 and a beta of 1.45. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.51 and a current ratio of 0.57. SkyWest, Inc. has a one year low of $77.89 and a one year high of $123.94. The stock’s fifty day moving average is $94.74 and its 200-day moving average is $94.78.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, July 23rd. The transportation company reported $2.54 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.16). The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. SkyWest had a return on equity of 14.58% and a net margin of 9.78%.The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.91 EPS. Equities analysts anticipate that SkyWest, Inc. will post 10.69 EPS for the current year.

SkyWest announced that its board has approved a share repurchase program on Thursday, July 23rd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the transportation company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on SKYW. Weiss Ratings upgraded shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. The Goldman Sachs Group cut SkyWest from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $126.00 to $115.00 in a report on Thursday, July 2nd. TD Cowen upped their target price on SkyWest from $98.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Finally, Citigroup increased their price target on SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and a consensus price target of $119.40.

Institutional Investors Weigh In On SkyWest

Institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its position in shares of SkyWest by 480.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 216 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in shares of SkyWest by 273.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after purchasing an additional 197 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of SkyWest in the 1st quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new stake in SkyWest during the third quarter valued at approximately $62,000. Finally, EverSource Wealth Advisors LLC boosted its holdings 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 in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

SkyWest Company Profile

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.