SkyWest, Inc. $SKYW Shares Sold by U S Global Investors Inc.

U S Global Investors Inc. lowered its position in SkyWest, Inc. (NASDAQ:SKYW) by 8.4% in the 3rd quarter, Holdings Channel reports. The firm owned 305,130 shares of the transportation company’s stock after selling 27,957 shares during the quarter. SkyWest accounts for approximately 2.9% of U S Global Investors Inc.’s portfolio, making the stock its 6th biggest position. U S Global Investors Inc.’s holdings in SkyWest were worth $29,573,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Kings Path Partners LLC bought a new position in shares of SkyWest during the third quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of SkyWest by 480.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after buying an additional 216 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of SkyWest in the first quarter worth approximately $26,000. Farther Finance Advisors LLC lifted its stake in shares of SkyWest by 78.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 468 shares of the transportation company’s stock worth $45,000 after acquiring an additional 206 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of SkyWest during the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

SkyWest Price Performance

Shares of SKYW stock opened at $95.73 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.57 and a quick ratio of 0.46. The company has a market capitalization of $3.72 billion, a P/E ratio of 9.52, a P/E/G ratio of 1.37 and a beta of 1.47. The company’s 50-day simple moving average is $97.69 and its two-hundred day simple moving average is $95.39. SkyWest, Inc. has a one year low of $77.89 and a one year high of $117.72.

SkyWest (NASDAQ:SKYW) last posted its quarterly 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 company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. SkyWest had a net margin of 9.78% and a return on equity of 14.58%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.91 EPS. As a group, equities analysts anticipate that SkyWest, Inc. will post 10.58 EPS for the current year.

SkyWest declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 23rd that permits the company to buy back $250.00 million in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 6.6% of its shares through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at SkyWest

In related news, CEO Russell Childs sold 50,500 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 346,190 shares of the company’s stock, valued at $39,192,169.90. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Greg Wooley sold 17,726 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $108.55, for a total value of $1,924,157.30. Following the transaction, the vice president owned 53,323 shares in the company, valued at $5,788,211.65. The trade was a 24.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,226 shares of company stock worth $12,855,192 in the last ninety days. 1.50% of the stock is owned by company insiders.

SkyWest Profile

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.