Insider Selling: SkyWest (NASDAQ:SKYW) Insider Sells $792,824.76 in Stock

SkyWest, Inc. (NASDAQ:SKYW) insider Wade Steel sold 7,371 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $107.56, for a total transaction of $792,824.76. Following the completion of the sale, the insider owned 98,067 shares of the company’s stock, valued at $10,548,086.52. This trade represents a 6.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

SkyWest Trading Up 1.3%

NASDAQ SKYW opened at $103.23 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $4.17 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.69 and a beta of 1.65. SkyWest, Inc. has a 52-week low of $74.70 and a 52-week high of $123.94. The firm has a 50-day moving average price of $101.77 and a 200 day moving average price of $103.87.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.04). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $993.12 million. SkyWest had a return on equity of 16.35% and a net margin of 10.56%.The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 EPS. Equities research analysts expect that SkyWest, Inc. will post 9.01 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on SKYW. Citigroup initiated coverage on shares of SkyWest in a research report on Thursday, December 4th. They set a “neutral” rating and a $112.00 target price on the stock. Cantor Fitzgerald set a $122.00 price objective on shares of SkyWest in a research note on Monday, January 26th. Wall Street Zen lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Finally, TD Cowen decreased their price target on SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.83.

Institutional Trading of SkyWest

Several institutional investors and hedge funds have recently modified their holdings of the business. Mcguire Capital Advisors Inc. purchased a new stake in shares of SkyWest in the fourth quarter valued at $244,000. Invesco Ltd. lifted its holdings in SkyWest by 24.9% in the 4th quarter. Invesco Ltd. now owns 498,590 shares of the transportation company’s stock valued at $50,063,000 after purchasing an additional 99,387 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of SkyWest by 7.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,874 shares of the transportation company’s stock worth $3,100,000 after purchasing an additional 2,091 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of SkyWest by 3.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 7,933 shares of the transportation company’s stock worth $797,000 after buying an additional 249 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in shares of SkyWest by 11.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 26,179 shares of the transportation company’s stock worth $2,527,000 after buying an additional 2,769 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.