SkyWest, Inc. $SKYW Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 47.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 8,104 shares of the transportation company’s stock after selling 7,465 shares during the period. State of Alaska Department of Revenue’s holdings in SkyWest were worth $785,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. raised its position in shares of SkyWest by 10.2% during the 1st quarter. Blue Trust Inc. now owns 1,512 shares of the transportation company’s stock valued at $139,000 after acquiring an additional 140 shares during the last quarter. DGS Capital Management LLC lifted its stake in shares of SkyWest by 4.4% in the 1st quarter. DGS Capital Management LLC now owns 3,497 shares of the transportation company’s stock valued at $321,000 after purchasing an additional 146 shares during the period. Physician Wealth Advisors Inc. boosted its position in shares of SkyWest by 10.8% in the 1st quarter. Physician Wealth Advisors Inc. now owns 1,894 shares of the transportation company’s stock worth $174,000 after purchasing an additional 184 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of SkyWest by 78.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 468 shares of the transportation company’s stock worth $45,000 after purchasing an additional 206 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of SkyWest by 480.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Insider Activity

In related news, CFO Robert J. Simmons sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $110.49, for a total value of $2,762,250.00. Following the completion of the sale, the chief financial officer owned 93,902 shares in the company, valued at $10,375,231.98. This represents a 21.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Russell A. Childs sold 50,500 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $113.21, for a total value of $5,717,105.00. Following the sale, the chief executive officer directly owned 346,190 shares in the company, valued at $39,192,169.90. The trade was a 12.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 115,226 shares of company stock worth $12,855,192 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SKYW shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of SkyWest in a research note on Wednesday, October 14th. The Goldman Sachs Group lowered SkyWest from a “buy” rating to a “neutral” rating and cut their target price for the company from $126.00 to $115.00 in a research note on Thursday, July 2nd. Citigroup raised their target price on SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. TD Cowen reduced their target price on SkyWest from $123.00 to $116.00 and set a “buy” rating on the stock in a report on Friday, October 2nd. Finally, Cantor Fitzgerald set a $116.00 target price on SkyWest in a research report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, SkyWest has an average rating of “Hold” and a consensus target price of $113.00.

SkyWest Stock Up 1.6%

Shares of NASDAQ:SKYW opened at $95.73 on Friday. SkyWest, Inc. has a 52 week low of $77.89 and a 52 week high of $117.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.46 and a current ratio of 0.57. The company has a market capitalization of $3.72 billion, a PE ratio of 9.65, a PEG ratio of 1.37 and a beta of 1.47. The company has a 50 day moving average price of $97.69 and a two-hundred day moving average price of $95.39.

SkyWest (NASDAQ:SKYW) last posted its earnings results 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 firm 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 company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $2.91 earnings per share. Analysts forecast that SkyWest, Inc. will post 10.58 earnings per share for the current year.

SkyWest declared that its board has initiated a share repurchase plan on Thursday, July 23rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the transportation company to buy up to 6.6% of its shares through open market purchases. Share repurchase plans are often a sign that the company’s management believes its stock is undervalued.

About SkyWest

SkyWest, Inc (NASDAQ: SKYW) is an airline holding company that operates regional passenger air service in the United States. Its primary subsidiary, SkyWest Airlines, connects smaller and midsized communities with larger airline hubs and provides scheduled flights under capacity-purchase agreements with major airline partners.

SkyWest Airlines operates flights under the United Express, Delta Connection and Alaska Airlines brands, serving destinations throughout the United States and select locations in Canada, Mexico and the Bahamas.