SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 4.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,552 shares of the transportation company's stock after selling 5,283 shares during the period. Rhumbline Advisers owned 0.27% of SkyWest worth $9,746,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC boosted its position in shares of SkyWest by 32.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 4,688 shares of the transportation company's stock worth $469,000 after acquiring an additional 1,144 shares during the last quarter. Wealthstar Advisors LLC purchased a new position in SkyWest during the fourth quarter worth approximately $1,193,000. Savant Capital LLC purchased a new position in SkyWest during the fourth quarter worth approximately $242,000. Louisiana State Employees Retirement System increased its holdings in shares of SkyWest by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the transportation company's stock worth $1,953,000 after buying an additional 100 shares during the last quarter. Finally, Legato Capital Management LLC raised its position in shares of SkyWest by 7.9% in the 4th quarter. Legato Capital Management LLC now owns 14,676 shares of the transportation company's stock worth $1,470,000 after buying an additional 1,071 shares during the period. Hedge funds and other institutional investors own 81.30% of the company's stock.

SkyWest Stock Down 0.1%

SkyWest stock traded down $0.14 during midday trading on Tuesday, hitting $102.81. 231,475 shares of the company were exchanged, compared to its average volume of 427,847. The company has a market cap of $4.16 billion, a PE ratio of 13.23 and a beta of 1.90. SkyWest, Inc. has a fifty-two week low of $64.61 and a fifty-two week high of $135.57. The company's fifty day moving average price is $93.58 and its 200-day moving average price is $100.17. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its earnings results on Thursday, April 24th. The transportation company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.38. The business had revenue of $948.46 million for the quarter, compared to analysts' expectations of $946.13 million. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. The business's revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 earnings per share. On average, research analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

SkyWest announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 7th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at SkyWest

In related news, insider Wade J. Steel sold 15,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $101.02, for a total value of $1,515,300.00. Following the transaction, the insider now owns 119,416 shares in the company, valued at approximately $12,063,404.32. The trade was a 11.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert J. Simmons sold 17,000 shares of SkyWest stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $103.75, for a total value of $1,763,750.00. Following the sale, the chief financial officer now owns 131,203 shares in the company, valued at $13,612,311.25. This represents a 11.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,000 shares of company stock valued at $4,994,520 in the last ninety days. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

SKYW has been the subject of a number of research reports. Raymond James lowered their price target on SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. The Goldman Sachs Group raised shares of SkyWest from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $119.00 to $117.00 in a research report on Tuesday, April 8th. Finally, Wall Street Zen raised shares of SkyWest from a "hold" rating to a "buy" rating in a research report on Friday, May 16th.

About SkyWest

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.