SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by State of Wyoming

State of Wyoming cut its holdings in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 40.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,735 shares of the transportation company's stock after selling 3,957 shares during the quarter. State of Wyoming's holdings in SkyWest were worth $574,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of SkyWest by 563.8% during the third quarter. Barclays PLC now owns 152,940 shares of the transportation company's stock valued at $13,002,000 after buying an additional 129,901 shares during the last quarter. Savant Capital LLC purchased a new stake in shares of SkyWest during the fourth quarter valued at about $242,000. Smartleaf Asset Management LLC lifted its position in shares of SkyWest by 193.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company's stock valued at $87,000 after buying an additional 569 shares during the last quarter. Caprock Group LLC purchased a new stake in shares of SkyWest during the fourth quarter valued at about $275,000. Finally, Stratos Wealth Partners LTD. lifted its position in shares of SkyWest by 172.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 29,268 shares of the transportation company's stock valued at $2,931,000 after buying an additional 18,520 shares during the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

SkyWest Stock Down 0.7%

Shares of SKYW traded down $0.73 during mid-day trading on Friday, hitting $97.92. 162,895 shares of the company traded hands, compared to its average volume of 396,351. SkyWest, Inc. has a 1-year low of $64.61 and a 1-year high of $135.57. 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 company has a market capitalization of $3.96 billion, a PE ratio of 12.60 and a beta of 1.88. The business has a 50 day moving average of $91.20 and a 200 day moving average of $100.97.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted 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 net margin of 9.15% and a return on equity of 14.17%. The firm had revenue of $948.46 million for the quarter, compared to the consensus estimate of $946.13 million. During the same quarter in the prior year, the company posted $1.45 earnings per share. The company's revenue for the quarter was up 18.0% compared to the same quarter last year. Equities research analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current year.

SkyWest declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 7th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the transportation company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have commented on SKYW shares. The Goldman Sachs Group raised shares of SkyWest from a "neutral" rating to a "buy" rating and decreased their price target for the company from $119.00 to $117.00 in a research report on Tuesday, April 8th. Raymond James decreased their price target on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a report on Friday, May 16th.

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.