Insider Selling: SkyWest, Inc. (SKYW) COO Sells $622,104.00 in Stock
SkyWest, Inc. (NASDAQ:SKYW) COO Terry Vais sold 12,075 shares of SkyWest stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $51.52, for a total transaction of $622,104.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of SkyWest, Inc. (SKYW) opened at $50.80 on Monday. SkyWest, Inc. has a 12 month low of $30.40 and a 12 month high of $52.95. The company has a market cap of $2,630.00, a P/E ratio of 16.13 and a beta of 1.77. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 1.61.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.03. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The firm had revenue of $831.93 million during the quarter, compared to analyst estimates of $817.43 million. During the same period in the previous year, the business posted $0.90 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. research analysts anticipate that SkyWest, Inc. will post 3.32 EPS for the current fiscal year.
Several brokerages have issued reports on SKYW. Cowen lifted their target price on shares of SkyWest from $40.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, August 10th. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 29th. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, October 3rd. Finally, Imperial Capital lifted their price target on shares of SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $48.33.
Hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position in SkyWest by 108.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock valued at $100,000 after buying an additional 1,488 shares during the period. Riverhead Capital Management LLC grew its position in SkyWest by 81.0% during the second quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock valued at $146,000 after buying an additional 1,862 shares during the period. Ameritas Investment Partners Inc. grew its position in SkyWest by 10.4% during the second quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock valued at $156,000 after buying an additional 419 shares during the period. Pitcairn Co. bought a new stake in SkyWest during the third quarter valued at approximately $205,000. Finally, Shelton Capital Management bought a new stake in SkyWest during the third quarter valued at approximately $218,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.
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.
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