Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Teachers Retirement System of The State of Kentucky lowered its position in SkyWest, Inc. (NASDAQ:SKYW) by 10.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,240 shares of the transportation company’s stock after selling 1,600 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in SkyWest were worth $1,126,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Glenmede Trust Co. NA raised its position in shares of SkyWest by 0.9% during the third quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company’s stock valued at $921,000 after buying an additional 98 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in SkyWest by 1.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company’s stock valued at $681,000 after acquiring an additional 152 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in SkyWest by 3.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,660 shares of the transportation company’s stock valued at $465,000 after acquiring an additional 213 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in SkyWest by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company’s stock worth $1,803,000 after purchasing an additional 214 shares in the last quarter. Finally, Hanseatic Management Services Inc. boosted its holdings in shares of SkyWest by 2.6% during the 2nd quarter. Hanseatic Management Services Inc. now owns 12,127 shares of the transportation company’s stock valued at $995,000 after purchasing an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Trading Down 3.8 %

Shares of NASDAQ SKYW opened at $99.40 on Thursday. SkyWest, Inc. has a 1-year low of $48.28 and a 1-year high of $117.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76. The business’s 50 day moving average is $104.73 and its two-hundred day moving average is $88.14. The stock has a market capitalization of $4.01 billion, a P/E ratio of 16.99 and a beta of 1.96.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $896.21 million. During the same quarter in the previous year, the business earned $0.55 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. As a group, research analysts expect that SkyWest, Inc. will post 7.16 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Robert J. Simmons sold 16,485 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 owns 113,539 shares of the company’s stock, valued at approximately $11,923,865.78. This represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Wade J. Steel sold 19,079 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total value of $1,993,373.92. Following the sale, the insider now directly owns 97,654 shares of the company’s stock, valued at $10,202,889.92. This represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,467 shares of company stock valued at $10,082,596 over the last three months. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SKYW has been the topic of several research reports. TD Cowen lifted their target price on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Raymond James upped their price objective on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, SkyWest currently has a consensus rating of “Moderate Buy” and an average target price of $105.75.

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.