Janney Montgomery Scott LLC Sells 2,595 Shares of SkyWest, Inc. $SKYW

Janney Montgomery Scott LLC trimmed its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 34.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,040 shares of the transportation company's stock after selling 2,595 shares during the period. Janney Montgomery Scott LLC's holdings in SkyWest were worth $519,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in SKYW. Nuveen LLC acquired a new stake in shares of SkyWest during the 1st quarter worth approximately $37,474,000. Brandywine Global Investment Management LLC acquired a new stake in shares of SkyWest during the 1st quarter worth approximately $12,839,000. Panagora Asset Management Inc. grew its holdings in shares of SkyWest by 243.9% during the 1st quarter. Panagora Asset Management Inc. now owns 176,573 shares of the transportation company's stock worth $15,427,000 after purchasing an additional 125,235 shares in the last quarter. Bandera Partners LLC grew its holdings in shares of SkyWest by 138.1% during the 1st quarter. Bandera Partners LLC now owns 209,000 shares of the transportation company's stock worth $18,260,000 after purchasing an additional 121,240 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of SkyWest by 8.3% during the 1st quarter. American Century Companies Inc. now owns 1,505,919 shares of the transportation company's stock worth $131,572,000 after purchasing an additional 115,619 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SkyWest news, Director James L. Welch sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $116.09, for a total value of $1,160,900.00. Following the completion of the sale, the director directly owned 27,717 shares in the company, valued at $3,217,666.53. This represents a 26.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Greg Wooley sold 2,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total value of $233,660.00. Following the completion of the sale, the vice president owned 66,737 shares of the company's stock, valued at $7,796,883.71. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,186 shares of company stock valued at $10,440,398. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Raymond James Financial raised SkyWest from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Zacks Research lowered SkyWest from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of SkyWest in a research note on Wednesday, October 8th. Finally, Evercore ISI boosted their price target on SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. One research 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 company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $126.75.

SkyWest Trading Down 1.3%

SKYW stock opened at $99.07 on Friday. The business has a fifty day moving average of $109.01 and a 200-day moving average of $102.98. The company has a market cap of $4.00 billion, a P/E ratio of 10.08, a PEG ratio of 0.99 and a beta of 1.86. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.78. SkyWest, Inc. has a twelve month low of $74.70 and a twelve month high of $135.57.

SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 EPS 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 the consensus estimate of $979.95 million. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The firm's revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.82 earnings per share. As a group, equities research analysts expect that SkyWest, Inc. will post 9.01 EPS for the current year.

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.

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