Robert Simmons Sells 25,000 Shares of SkyWest (NASDAQ:SKYW) Stock

by · The Markets Daily

SkyWest, Inc. (NASDAQ:SKYW – Get Free Report) CFO Robert Simmons sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $110.49, for a total transaction of $2,762,250.00. Following the completion of the transaction, the chief financial officer directly owned 93,902 shares of the company’s stock, valued at approximately $10,375,231.98. This represents a 21.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

SkyWest Price Performance

SKYW traded down $1.29 during trading on Friday, reaching $106.97. The stock had a trading volume of 335,913 shares, compared to its average volume of 382,995. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.51 and a current ratio of 0.57. The stock has a market cap of $4.15 billion, a PE ratio of 10.63, a PEG ratio of 1.57 and a beta of 1.45. The business has a 50-day moving average of $94.30 and a 200-day moving average of $94.69. SkyWest, Inc. has a one year low of $77.89 and a one year high of $123.94.

SkyWest (NASDAQ:SKYW – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The transportation company reported $2.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.16). The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. SkyWest had a net margin of 9.78% and a return on equity of 14.58%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.91 earnings per share. As a group, equities research analysts anticipate that SkyWest, Inc. will post 10.69 EPS for the current fiscal year.

SkyWest announced that its board has initiated a stock repurchase plan on Thursday, July 23rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the transportation company to repurchase up to 6.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on SKYW. Weiss Ratings upgraded shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 16th. The Goldman Sachs Group lowered SkyWest from a “buy” rating to a “neutral” rating and dropped their price target for the company from $126.00 to $115.00 in a research report on Thursday, July 2nd. TD Cowen raised their target price on shares of SkyWest from $98.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Citigroup lifted their price target on SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, SkyWest presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.40.

View Our Latest Analysis on SKYW

Institutional Trading of SkyWest

Several large investors have recently added to or reduced their stakes in SKYW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in SkyWest by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock worth $2,061,000 after buying an additional 1,034 shares in the last quarter. United Services Automobile Association purchased a new position in shares of SkyWest during the first quarter valued at about $227,000. M&T Bank Corp grew its position in shares of SkyWest by 7.6% during the second quarter. M&T Bank Corp now owns 2,825 shares of the transportation company’s stock valued at $290,000 after purchasing an additional 199 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of SkyWest by 8.8% in the second quarter. First Trust Advisors LP now owns 85,577 shares of the transportation company’s stock worth $8,812,000 after purchasing an additional 6,938 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors.

About SkyWest

(Get Free Report)

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.

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