SkyWest, Inc. (NASDAQ:SKYW) Insider Sells $1,993,373.92 in Stock

SkyWest, Inc. (NASDAQ:SKYW) insider Wade J. Steel sold 19,079 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the sale, the insider now directly owns 97,654 shares in the company, valued at approximately $10,202,889.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

SkyWest Trading Down 0.8 %

Shares of NASDAQ SKYW traded down $0.85 during midday trading on Thursday, reaching $111.57. 414,477 shares of the stock were exchanged, compared to its average volume of 407,802. 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 company has a market capitalization of $4.50 billion, a P/E ratio of 19.22 and a beta of 1.93. The stock has a 50 day moving average price of $86.64 and a 200-day moving average price of $80.67. SkyWest, Inc. has a 52-week low of $41.96 and a 52-week high of $115.03.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.24. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The company had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. During the same period in the previous year, the firm posted $0.55 EPS. SkyWest’s revenue was up 19.1% on a year-over-year basis. Equities research analysts expect that SkyWest, Inc. will post 7.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SKYW shares. Raymond James upped their price target on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Cowen increased their target price on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, SkyWest presently has a consensus rating of “Moderate Buy” and an average price target of $101.33.

Hedge Funds Weigh In On SkyWest

Large investors have recently added to or reduced their stakes in the business. NBC Securities Inc. grew its holdings in SkyWest by 1,368.0% in the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after buying an additional 342 shares during the period. Kings Path Partners LLC acquired a new stake in shares of SkyWest in the second quarter worth approximately $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in SkyWest in the second quarter valued at approximately $54,000. CWM LLC increased its position in SkyWest by 57.3% during the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after purchasing an additional 279 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in SkyWest by 45.9% during the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock worth $76,000 after purchasing an additional 292 shares during the period. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Company Profile

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.