Ronald J. Mittelstaedt Sells 25,000 Shares of SkyWest, Inc. (NASDAQ:SKYW) Stock

SkyWest, Inc. (NASDAQ:SKYW) Director Ronald J. Mittelstaedt sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total value of $2,801,500.00. Following the transaction, the director now owns 11,283 shares of the company’s stock, valued at $1,264,372.98. This trade represents a 0.00 % 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.

SkyWest Price Performance

SKYW stock traded up $1.33 during trading on Friday, reaching $112.90. 414,305 shares of the company were exchanged, compared to its average volume of 407,833. SkyWest, Inc. has a 52-week low of $41.96 and a 52-week high of $115.03. The company has a market cap of $4.55 billion, a P/E ratio of 19.30 and a beta of 1.93. The stock’s 50 day moving average price is $87.36 and its 200 day moving average price is $80.88. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.74 and a current ratio of 0.86.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping 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 firm 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. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. As a group, analysts predict that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. lifted its stake in shares of SkyWest by 1,368.0% during the third 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 purchased a new stake in shares of SkyWest in the second quarter valued at $42,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in SkyWest in the second quarter valued at $54,000. CWM LLC boosted its stake in SkyWest by 57.3% in the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after buying an additional 279 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in SkyWest by 45.9% in the 2nd quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after buying an additional 292 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James boosted their price objective on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen upped their price objective on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.33.

About SkyWest

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.