SkyWest, Inc. (NASDAQ:SKYW) Insider Wade J. Steel Sells 19,079 Shares

SkyWest, Inc. (NASDAQ:SKYW) insider Wade J. Steel sold 19,079 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the transaction, the insider now directly owns 97,654 shares of the company’s stock, valued at approximately $10,202,889.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

SkyWest Stock Down 0.8 %

Shares of NASDAQ:SKYW opened at $111.57 on Friday. The stock has a market cap of $4.50 billion, a P/E ratio of 19.07 and a beta of 1.93. The firm has a fifty day moving average price of $87.36 and a 200 day moving average price of $80.88. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.74. SkyWest, Inc. has a 1-year low of $41.96 and a 1-year high of $115.03.

SkyWest (NASDAQ:SKYW) last posted its 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 net margin of 7.29% and a return on equity of 11.02%. The firm had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. During the same period last year, the firm posted $0.55 EPS. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. Sell-side analysts predict that SkyWest, Inc. will post 7.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SKYW. Victory Capital Management Inc. lifted its position in SkyWest by 90.2% during the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after buying an additional 261,349 shares in the last quarter. American Century Companies Inc. lifted its position in 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 buying an additional 165,670 shares in the last quarter. Millennium Management LLC lifted its position in SkyWest by 27.7% during the second quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after buying an additional 96,830 shares in the last quarter. Nicholas Investment Partners LP lifted its position in SkyWest by 82.9% during the second quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock valued at $15,451,000 after buying an additional 85,356 shares in the last quarter. Finally, SW Investment Management LLC lifted its position in shares of SkyWest by 13.2% during the second 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 in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SKYW. TD Cowen lifted their price objective on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday. 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 report on Friday, November 1st. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, SkyWest presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.33.

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.