SkyWest, Inc. $SKYW Shares Sold by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC reduced its stake in SkyWest, Inc. by 3.0%, selling 8,926 shares to own a total of 286,878 shares, representing 0.6% of its portfolio.
• SkyWest's stock has received multiple price target increases from analysts, with new targets set at $130.00 by Evercore ISI and $140.00 by Raymond James, reflecting a consensus "Buy" rating.
• CEO Russell A. Childs sold 26,000 shares of SkyWest stock for over $3 million, which decreased his ownership in the company by 6.03%, while insiders have sold a total of 89,186 shares valued at approximately $10.4 million over the last 90 days.

Bridgeway Capital Management LLC trimmed its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 286,878 shares of the transportation company's stock after selling 8,926 shares during the period. SkyWest comprises approximately 0.6% of Bridgeway Capital Management LLC's investment portfolio, making the stock its 10th biggest position. Bridgeway Capital Management LLC owned approximately 0.71% of SkyWest worth $25,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SKYW. Stifel Financial Corp acquired a new stake in SkyWest in the fourth quarter valued at $240,000. Price T Rowe Associates Inc. MD grew its holdings in SkyWest by 12.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 30,139 shares of the transportation company's stock worth $3,018,000 after acquiring an additional 3,308 shares during the period. Northern Trust Corp grew its holdings in SkyWest by 12.3% during the 4th quarter. Northern Trust Corp now owns 472,763 shares of the transportation company's stock worth $47,338,000 after acquiring an additional 51,607 shares during the period. AQR Capital Management LLC grew its holdings in SkyWest by 18.5% during the 4th quarter. AQR Capital Management LLC now owns 110,995 shares of the transportation company's stock worth $11,114,000 after acquiring an additional 17,332 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its holdings in SkyWest by 34.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 11,610 shares of the transportation company's stock worth $1,163,000 after acquiring an additional 2,970 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SKYW has been the subject of a number of recent analyst reports. Wall Street Zen upgraded SkyWest from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Evercore ISI increased their price target on SkyWest from $120.00 to $130.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Finally, Raymond James Financial increased their price target on SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, SkyWest currently has a consensus rating of "Buy" and an average target price of $126.75.

SkyWest Stock Down 1.1%

Shares of SKYW traded down $1.28 during trading hours on Friday, hitting $119.22. The stock had a trading volume of 333,537 shares, compared to its average volume of 304,326. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63. The firm has a 50 day simple moving average of $114.08 and a 200-day simple moving average of $100.75. The firm has a market capitalization of $4.81 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.18 and a beta of 1.92. SkyWest, Inc. has a 1-year low of $72.70 and a 1-year high of $135.57.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its earnings results on Thursday, July 24th. The transportation company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.34 by $0.57. The company 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 for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $1.82 EPS. Sell-side analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling

In other SkyWest news, CEO Russell A. Childs sold 26,000 shares of SkyWest stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $116.06, for a total transaction of $3,017,560.00. Following the completion of the transaction, the chief executive officer owned 404,883 shares in the company, valued at approximately $46,990,720.98. The trade was a 6.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James L. Welch sold 10,000 shares of SkyWest stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $116.09, for a total value of $1,160,900.00. Following the transaction, the director owned 27,717 shares of the company's stock, valued at $3,217,666.53. This trade represents a 26.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,186 shares of company stock worth $10,440,398 over the last 90 days. 2.00% of the stock is owned by company insiders.

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.