Bank of America Corp DE Acquires 13,077 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Bank of America Corp DE boosted its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,487 shares of the transportation company's stock after buying an additional 13,077 shares during the period. Bank of America Corp DE owned about 0.22% of SkyWest worth $9,060,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SKYW. New Age Alpha Advisors LLC acquired a new stake in shares of SkyWest in the 4th quarter valued at $39,000. Headlands Technologies LLC acquired a new stake in shares of SkyWest in the 4th quarter valued at $45,000. Private Trust Co. NA boosted its stake in shares of SkyWest by 157.1% in the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company's stock valued at $49,000 after purchasing an additional 300 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in shares of SkyWest in the 4th quarter valued at $50,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of SkyWest by 117.2% in the 4th quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company's stock valued at $83,000 after purchasing an additional 449 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

Insider Activity at SkyWest

In other SkyWest news, CEO Russell A. Childs sold 17,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $100.91, for a total transaction of $1,715,470.00. Following the completion of the transaction, the chief executive officer now owns 449,242 shares of the company's stock, valued at $45,333,010.22. This represents a 3.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.

SkyWest Stock Up 0.8%

Shares of SKYW traded up $0.83 on Thursday, hitting $102.35. The company's stock had a trading volume of 251,439 shares, compared to its average volume of 395,329. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. The firm's fifty day moving average price is $91.92 and its 200-day moving average price is $100.72. SkyWest, Inc. has a fifty-two week low of $64.61 and a fifty-two week high of $135.57. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 13.17 and a beta of 1.88.

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

SkyWest declared that its board has authorized a share repurchase program on Wednesday, May 7th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the transportation company to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

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

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.