Cambridge Investment Research Advisors Inc. Has $505,000 Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

Cambridge Investment Research Advisors Inc. lowered its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 30.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,780 shares of the transportation company's stock after selling 2,522 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in SkyWest were worth $505,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in SkyWest in the 1st quarter worth $27,000. NBC Securities Inc. acquired a new position in shares of SkyWest during the 1st quarter worth about $32,000. New Age Alpha Advisors LLC acquired a new position in shares of SkyWest during the 4th quarter worth about $39,000. Headlands Technologies LLC acquired a new position in shares of SkyWest during the 4th quarter worth about $45,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of SkyWest by 117.2% during the 4th quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company's stock worth $83,000 after buying an additional 449 shares during the last quarter. Institutional investors own 81.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Evercore ISI upgraded shares of SkyWest from an "in-line" rating to an "outperform" rating and set a $120.00 price objective for the company in a research note on Tuesday, July 1st. The Goldman Sachs Group upgraded shares of SkyWest from a "neutral" rating to a "buy" rating and cut their target price for the company from $119.00 to $117.00 in a research note on Tuesday, April 8th. Raymond James Financial cut their target price on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, SkyWest presently has a consensus rating of "Buy" and an average price target of $120.50.

SkyWest Stock Performance

SkyWest stock traded down $1.85 during trading hours on Friday, hitting $111.76. The company had a trading volume of 339,844 shares, compared to its average volume of 382,970. The firm has a market cap of $4.52 billion, a PE ratio of 12.79, a PEG ratio of 1.39 and a beta of 1.88. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.76 and a quick ratio of 0.66. SkyWest, Inc. has a one year low of $64.61 and a one year high of $135.57. The firm has a 50-day moving average of $101.44 and a 200 day moving average of $99.26.

SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.38. The firm had revenue of $948.46 million for the quarter, compared to analysts' expectations of $946.13 million. SkyWest had a net margin of 9.89% and a return on equity of 15.41%. The business's revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 EPS. On average, sell-side analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current year.

SkyWest declared that its Board of Directors has approved a stock buyback program on Wednesday, May 7th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the transportation company to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at SkyWest

In other news, CEO Russell A. Childs sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $100.91, for a total transaction of $1,715,470.00. Following the transaction, the chief executive officer directly owned 449,242 shares of the company's stock, valued at approximately $45,333,010.22. This trade represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert J. Simmons sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $103.75, for a total transaction of $1,763,750.00. Following the transaction, the chief financial officer directly owned 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 have sold a total of 49,000 shares of company stock valued at $4,994,520 in the last three months. 2.00% of the stock is currently owned by company insiders.

SkyWest Company 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.