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

SkyWest, Inc. (NASDAQ:SKYW) CFO Robert J. Simmons sold 16,485 shares of SkyWest stock in a transaction that occurred on 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 sale, the chief financial officer now owns 113,539 shares in the company, valued at approximately $11,923,865.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SkyWest Price Performance

SKYW stock traded down $0.85 during trading on Thursday, hitting $111.57. 414,477 shares of the company’s stock traded hands, compared to its average volume of 407,802. SkyWest, Inc. has a 52 week low of $41.96 and a 52 week high of $115.03. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 19.22 and a beta of 1.93. The business has a fifty day simple moving average of $86.64 and a 200 day simple moving average of $80.67. 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 released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 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 company had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. During the same quarter last year, the business posted $0.55 earnings per share. The firm’s revenue was up 19.1% on a year-over-year basis. As a group, research analysts expect that SkyWest, Inc. will post 7.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SKYW has been the topic of several research analyst reports. Raymond James boosted their price target on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. TD Cowen boosted their target price on 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.33.

Hedge Funds Weigh In On SkyWest

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

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.