Insider Selling: SkyWest, Inc. (NASDAQ:SKYW) CFO Sells 8,890 Shares of Stock

SkyWest, Inc. (NASDAQ:SKYWGet Free Report) CFO Robert J. Simmons sold 8,890 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $75.00, for a total value of $666,750.00. Following the transaction, the chief financial officer now directly owns 130,024 shares in the company, valued at $9,751,800. The sale was disclosed in a filing with the SEC, which is available through this link.

SkyWest Stock Performance

SkyWest stock traded up $1.45 during trading hours on Friday, hitting $75.05. 238,687 shares of the stock traded hands, compared to its average volume of 447,010. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.81 and a quick ratio of 0.72. The firm’s 50 day moving average price is $71.47 and its 200-day moving average price is $59.68. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 26.90 and a beta of 1.89. SkyWest, Inc. has a 1 year low of $28.55 and a 1 year high of $79.56.

SkyWest (NASDAQ:SKYWGet Free Report) last issued its earnings results on Thursday, April 25th. The transportation company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.21. SkyWest had a return on equity of 5.45% and a net margin of 3.83%. The firm had revenue of $804.00 million for the quarter, compared to the consensus estimate of $800.07 million. During the same quarter in the prior year, the business earned ($0.45) earnings per share. The company’s revenue was up 16.4% compared to the same quarter last year. As a group, equities analysts expect that SkyWest, Inc. will post 6.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Evercore ISI upped their target price on SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. StockNews.com raised SkyWest from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. TD Cowen raised SkyWest from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $68.00 in a research report on Monday, February 5th. Raymond James boosted their price target on SkyWest from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, TheStreet upgraded SkyWest from a “c” rating to a “b-” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, SkyWest currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Read Our Latest Analysis on SkyWest

Institutional Trading of SkyWest

A number of hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers purchased a new position in SkyWest during the first quarter worth approximately $1,853,000. Bridgeway Capital Management LLC boosted its position in SkyWest by 1.4% during the first quarter. Bridgeway Capital Management LLC now owns 361,213 shares of the transportation company’s stock worth $24,953,000 after purchasing an additional 4,813 shares in the last quarter. Caxton Associates LP boosted its position in SkyWest by 445.8% during the first quarter. Caxton Associates LP now owns 37,501 shares of the transportation company’s stock worth $2,591,000 after purchasing an additional 30,630 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in SkyWest by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,717 shares of the transportation company’s stock worth $1,846,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in SkyWest by 81.6% during the first quarter. Lazard Asset Management LLC now owns 1,678 shares of the transportation company’s stock worth $115,000 after purchasing an additional 754 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Company Profile

(Get Free Report)

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.

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