Insider Selling: SkyWest, Inc. (NASDAQ:SKYW) CFO Sells 16,485 Shares of Stock

by · The Markets Daily

SkyWest, Inc. (NASDAQ:SKYW – Get Free Report) CFO Robert J. Simmons sold 16,485 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total transaction of $1,731,254.70. Following the transaction, the chief financial officer now directly owns 113,539 shares of the company’s stock, valued at approximately $11,923,865.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

SkyWest Stock Down 0.8 %

SkyWest stock traded down $0.85 on Thursday, hitting $111.57. 414,477 shares of the stock traded hands, compared to its average volume of 407,802. SkyWest, Inc. has a 1 year low of $41.96 and a 1 year high of $115.03. The firm has a market cap of $4.50 billion, a P/E ratio of 19.22 and a beta of 1.93. The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 0.95. The business’s fifty day simple moving average is $86.64 and its 200 day simple moving average is $80.67.

SkyWest (NASDAQ:SKYW – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.92 by $0.24. The business had revenue of $912.79 million for the quarter, compared to analyst estimates of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. SkyWest’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. As a group, sell-side analysts forecast that SkyWest, Inc. will post 7.06 earnings per share for the current year.

Institutional Trading of SkyWest

A number of hedge funds have recently made changes to their positions in SKYW. Pacer Advisors Inc. raised its position in shares of SkyWest by 2.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock worth $184,855,000 after purchasing an additional 51,180 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of SkyWest by 16.8% during the second quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock valued at $94,510,000 after purchasing an additional 165,670 shares during the last quarter. SW Investment Management LLC lifted its position in SkyWest by 13.2% during the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock valued at $49,242,000 after purchasing an additional 70,000 shares during the period. Victory Capital Management Inc. boosted its stake in shares of SkyWest by 90.2% in the 2nd quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock worth $45,225,000 after buying an additional 261,349 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of SkyWest by 27.7% during the 2nd quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after purchasing an additional 96,830 shares during the period. 81.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SKYW has been the topic of a number of research analyst reports. Raymond James boosted their price objective on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Cowen increased their price target on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and a consensus target price of $101.33.

Check Out Our Latest Report on SkyWest

SkyWest Company Profile

(Get Free Report)

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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