Wade Steel Sells 7,371 Shares of SkyWest (NASDAQ:SKYW) Stock

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

SkyWest Stock Performance

NASDAQ SKYW traded down $3.36 during mid-day trading on Thursday, reaching $101.95. 199,044 shares of the stock were exchanged, compared to its average volume of 271,047. The company 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. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.65. The business’s 50 day moving average is $101.93 and its 200-day moving average is $103.97. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $123.94.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, January 29th. The transportation company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $993.12 million. During the same period in the previous year, the firm posted $2.34 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Hedge Funds Weigh In On SkyWest

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in SkyWest by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 144,978 shares of the transportation company’s stock worth $14,628,000 after buying an additional 28,669 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of SkyWest by 16.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 38,117 shares of the transportation company’s stock valued at $3,925,000 after acquiring an additional 5,277 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of SkyWest by 189.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 19,044 shares of the transportation company’s stock worth $1,916,000 after acquiring an additional 12,470 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of SkyWest by 1,124.8% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 28,759 shares of the transportation company’s stock worth $2,961,000 after acquiring an additional 26,411 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of SkyWest by 55.2% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,048 shares of the transportation company’s stock worth $4,030,000 after purchasing an additional 14,251 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Cantor Fitzgerald set a $122.00 price objective on SkyWest in a report on Monday, January 26th. TD Cowen decreased their target price on SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Finally, Citigroup initiated coverage on shares of SkyWest in a report on Thursday, December 4th. They set a “neutral” rating and a $112.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $123.83.

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.