SkyWest (NASDAQ:SKYW) Insider Sells 22,000 Shares of Stock

by · The Markets Daily

SkyWest, Inc. (NASDAQ:SKYW – Get Free Report) insider Wade Steel sold 22,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $111.44, for a total transaction of $2,451,680.00. Following the completion of the sale, the insider owned 55,438 shares of the company’s stock, valued at $6,178,010.72. This trade represents a 28.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SkyWest Trading Up 0.9%

NASDAQ:SKYW traded up $1.02 during mid-day trading on Wednesday, hitting $115.94. 509,248 shares of the stock traded hands, compared to its average volume of 475,645. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.65 and a beta of 1.46. The firm’s 50 day moving average is $96.42 and its two-hundred day moving average is $95.09. SkyWest, Inc. has a 52 week low of $77.89 and a 52 week high of $123.94. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 0.59.

SkyWest (NASDAQ:SKYW – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The transportation company reported $2.54 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.16). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.11 billion. SkyWest had a return on equity of 14.58% and a net margin of 9.78%.The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.91 earnings per share. On average, equities research analysts predict that SkyWest, Inc. will post 10.69 earnings per share for the current year.

SkyWest announced that its Board of Directors has initiated a share buyback plan on Thursday, July 23rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the transportation company to purchase up to 6.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of SkyWest

A number of institutional investors have recently made changes to their positions in SKYW. Vanguard Group Inc. increased its position in SkyWest by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 4,966,485 shares of the transportation company’s stock valued at $498,685,000 after buying an additional 152,863 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SkyWest by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,529,333 shares of the transportation company’s stock worth $232,260,000 after acquiring an additional 20,678 shares during the last quarter. State Street Corp boosted its stake in SkyWest by 0.5% in the 4th quarter. State Street Corp now owns 1,517,700 shares of the transportation company’s stock worth $152,392,000 after purchasing an additional 8,117 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in SkyWest by 27.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,184,956 shares of the transportation company’s stock valued at $118,981,000 after purchasing an additional 255,408 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of SkyWest by 2.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 859,843 shares of the transportation company’s stock worth $86,337,000 after buying an additional 18,422 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Analyst Ratings Changes

SKYW has been the subject of a number of research analyst reports. 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 lowered their price target for the company from $126.00 to $115.00 in a report on Thursday, July 2nd. TD Cowen upped their target price on SkyWest from $98.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Citigroup raised their price target on SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.40.

Read Our Latest Research Report on SKYW

SkyWest Company Profile

(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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