SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 2.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,057 shares of the transportation company’s stock after selling 326 shares during the quarter. Yousif Capital Management LLC’s holdings in SkyWest were worth $1,316,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. First Citizens Bank & Trust Co. acquired a new stake in SkyWest during the 1st quarter worth approximately $248,000. Financial Management Professionals Inc. acquired a new stake in SkyWest in the 1st quarter valued at about $27,000. NBC Securities Inc. acquired a new stake in SkyWest in the 1st quarter valued at about $32,000. Summit Global Investments raised its holdings in SkyWest by 22.6% in the first quarter. Summit Global Investments now owns 9,885 shares of the transportation company’s stock valued at $864,000 after acquiring an additional 1,824 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in SkyWest by 9,644.5% in the first quarter. GAMMA Investing LLC now owns 152,111 shares of the transportation company’s stock valued at $13,290,000 after acquiring an additional 150,550 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Stock Performance

Shares of SkyWest stock opened at $96.43 on Wednesday. The firm’s fifty day simple moving average is $95.55 and its 200-day simple moving average is $99.61. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.21 and a beta of 1.90. SkyWest, Inc. has a 12 month low of $64.61 and a 12 month high of $135.57. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.76 and a quick ratio of 0.66.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, April 24th. The transportation company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.38. The business had revenue of $948.46 million for the quarter, compared to analysts’ expectations of $946.13 million. SkyWest had a net margin of 9.89% and a return on equity of 15.41%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 EPS. As a group, equities analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current year.

SkyWest declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 7th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the transportation company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on SKYW. Wall Street Zen raised shares of SkyWest from a “hold” rating to a “buy” rating in a report on Friday, May 16th. The Goldman Sachs Group upgraded shares of SkyWest from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $119.00 to $117.00 in a report on Tuesday, April 8th. Finally, Raymond James Financial reduced their price objective on shares of SkyWest from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd.

Insider Buying and Selling at SkyWest

In related news, CFO Robert J. Simmons sold 17,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $103.75, for a total value of $1,763,750.00. Following the transaction, the chief financial officer now owns 131,203 shares in the company, valued at $13,612,311.25. The trade was a 11.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Wade J. Steel sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $101.02, for a total value of $1,515,300.00. Following the completion of the transaction, the insider now directly owns 119,416 shares in the company, valued at approximately $12,063,404.32. The trade was a 11.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,000 shares of company stock worth $4,994,520. 1.20% of the stock is owned by company insiders.

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.