US Bancorp DE Sells 526 Shares of SkyWest, Inc. $SKYW

US Bancorp DE decreased its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,984 shares of the transportation company’s stock after selling 526 shares during the period. US Bancorp DE’s holdings in SkyWest were worth $719,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GK Wealth Management LLC lifted its stake in SkyWest by 2.4% during the first quarter. GK Wealth Management LLC now owns 4,600 shares of the transportation company’s stock worth $402,000 after purchasing an additional 106 shares during the period. Maryland State Retirement & Pension System raised its stake in shares of SkyWest by 0.9% in the second quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company’s stock valued at $1,225,000 after acquiring an additional 106 shares during the last quarter. Hohimer Wealth Management LLC raised its stake in shares of SkyWest by 4.7% in the first quarter. Hohimer Wealth Management LLC now owns 2,829 shares of the transportation company’s stock valued at $247,000 after acquiring an additional 126 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of SkyWest by 38.4% in the second quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 153 shares during the last quarter. Finally, Xponance Inc. raised its stake in shares of SkyWest by 5.9% in the first quarter. Xponance Inc. now owns 2,974 shares of the transportation company’s stock valued at $260,000 after acquiring an additional 166 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

Shares of SkyWest stock opened at $99.07 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63. The firm has a market cap of $4.00 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.98 and a beta of 1.86. The firm has a 50 day simple moving average of $109.01 and a 200 day simple moving average of $103.06. SkyWest, Inc. has a fifty-two week low of $74.70 and a fifty-two week high of $135.57.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.57. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $979.95 million. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. SkyWest’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.82 earnings per share. Sell-side analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Russell A. Childs sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $116.06, for a total value of $3,017,560.00. Following the completion of the sale, the chief executive officer owned 404,883 shares of the company’s stock, valued at $46,990,720.98. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wade J. Steel sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $118.26, for a total transaction of $2,010,420.00. Following the completion of the sale, the insider directly owned 102,416 shares of the company’s stock, valued at approximately $12,111,716.16. This represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,186 shares of company stock valued at $10,440,398 over the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SKYW shares. Evercore ISI lifted their target price on shares of SkyWest from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Raymond James Financial upgraded shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $126.75.

SkyWest 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.