Empowered Funds LLC Sells 7,116 Shares of SkyWest, Inc. $SKYW

Key Points

• Empowered Funds LLC decreased its stake in SkyWest, Inc. by 5.1%, owning 131,170 shares worth approximately $11.46 million after selling 7,116 shares in the first quarter.
• SkyWest's CFO Robert J. Simmons completed a significant stock sale of 17,186 shares valued at over $2 million, reflecting a decrease in his ownership by 13.1%.
• SkyWest recently reported quarterly earnings of $2.91 per share, surpassing analysts' expectations, with a revenue increase of 19.4% year-over-year to approximately $1.04 billion.

Empowered Funds LLC decreased its position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 131,170 shares of the transportation company's stock after selling 7,116 shares during the period. Empowered Funds LLC owned about 0.32% of SkyWest worth $11,460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Hohimer Wealth Management LLC grew its stake in shares of SkyWest by 4.7% during the first quarter. Hohimer Wealth Management LLC now owns 2,829 shares of the transportation company's stock valued at $247,000 after purchasing an additional 126 shares during the last quarter. Xponance Inc. grew its stake in shares of SkyWest by 5.9% during the first quarter. Xponance Inc. now owns 2,974 shares of the transportation company's stock valued at $260,000 after purchasing an additional 166 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of SkyWest by 11.5% during the first quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock valued at $152,000 after purchasing an additional 180 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of SkyWest by 5.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,322 shares of the transportation company's stock valued at $290,000 after purchasing an additional 186 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of SkyWest by 1.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,057 shares of the transportation company's stock valued at $1,608,000 after purchasing an additional 193 shares during the last quarter. 81.30% of the stock is owned by institutional investors.

SkyWest Trading Down 1.8%

Shares of NASDAQ SKYW traded down $1.92 during midday trading on Monday, reaching $105.74. 133,226 shares of the stock were exchanged, compared to its average volume of 399,515. The business has a 50-day simple moving average of $114.36 and a two-hundred day simple moving average of $101.11. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 1.06 and a beta of 1.92. SkyWest, Inc. has a 12 month low of $74.70 and a 12 month high of $135.57. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.34 by $0.57. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $979.95 million. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The business's quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. As a group, equities research analysts expect that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Transactions at SkyWest

In other SkyWest news, CFO Robert J. Simmons sold 17,186 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $117.46, for a total transaction of $2,018,667.56. Following the sale, the chief financial officer directly owned 114,017 shares of the company's stock, valued at $13,392,436.82. The trade was a 13.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Eric Woodward sold 7,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $116.67, for a total transaction of $816,690.00. Following the sale, the chief accounting officer directly owned 47,810 shares in the company, valued at $5,577,992.70. This trade represents a 12.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,186 shares of company stock worth $10,440,398. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

SKYW has been the topic of several research analyst reports. Raymond James Financial increased their price target on shares of SkyWest from $128.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Evercore ISI raised their price objective on shares of SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Four analysts have rated the stock with a Buy rating, According to MarketBeat.com, SkyWest currently has an average rating of "Buy" and a consensus target price of $126.75.

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.