SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in shares of SkyWest, Inc. (NASDAQ:SKYWFree Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,943 shares of the transportation company’s stock after selling 246 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of SkyWest worth $1,723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SKYW. EP Wealth Advisors LLC grew its position in SkyWest by 5,203.4% during the third quarter. EP Wealth Advisors LLC now owns 256,631 shares of the transportation company’s stock worth $10,763,000 after buying an additional 251,792 shares during the period. Clearbridge Investments LLC acquired a new position in SkyWest during the fourth quarter worth about $12,773,000. Norges Bank acquired a new position in SkyWest during the fourth quarter worth about $12,134,000. Goldman Sachs Group Inc. grew its position in SkyWest by 46.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 424,239 shares of the transportation company’s stock worth $22,145,000 after buying an additional 134,066 shares during the period. Finally, American Century Companies Inc. grew its position in SkyWest by 16.4% during the third quarter. American Century Companies Inc. now owns 721,053 shares of the transportation company’s stock worth $30,241,000 after buying an additional 101,459 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Stock Down 1.0 %

Shares of NASDAQ SKYW opened at $81.95 on Monday. SkyWest, Inc. has a 12-month low of $36.91 and a 12-month high of $84.58. The company has a market capitalization of $3.30 billion, a PE ratio of 29.58 and a beta of 1.96. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.81 and a quick ratio of 0.72. The firm’s 50-day moving average is $77.64 and its two-hundred day moving average is $66.77.

SkyWest (NASDAQ:SKYWGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The transportation company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.21. SkyWest had a net margin of 3.83% and a return on equity of 5.45%. The company had revenue of $804.00 million for the quarter, compared to the consensus estimate of $800.07 million. During the same quarter in the prior year, the firm earned ($0.45) earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts anticipate that SkyWest, Inc. will post 6.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SKYW. Evercore ISI upped their target price on shares of SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. TD Cowen upped their target price on shares of SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and an average target price of $76.67.

Read Our Latest Report on SKYW

Insider Buying and Selling at SkyWest

In related news, CAO Eric Woodward sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $80.56, for a total transaction of $402,800.00. Following the transaction, the chief accounting officer now owns 48,426 shares of the company’s stock, valued at $3,901,198.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Greg Wooley sold 7,415 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $81.27, for a total transaction of $602,617.05. Following the transaction, the vice president now owns 59,058 shares of the company’s stock, valued at $4,799,643.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Eric Woodward sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $80.56, for a total transaction of $402,800.00. Following the transaction, the chief accounting officer now directly owns 48,426 shares in the company, valued at approximately $3,901,198.56. The disclosure for this sale can be found here. Insiders have sold 94,290 shares of company stock valued at $7,282,611 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

SkyWest Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SkyWest (NASDAQ:SKYW)

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