Rhumbline Advisers Reduces Position in SkyWest, Inc. $SKYW

Key Points

• Rhumbline Advisers decreased its holdings in SkyWest by 4.5% during the first quarter, now owning approximately 111,552 shares, valued at $9,746,000.
• SkyWest's stock recently opened at $108.14 and achieved earnings per share of $2.91 in its last quarterly earnings report, exceeding analysts' expectations.
• Several brokerages, including Evercore ISI and Raymond James Financial, have upgraded SkyWest's stock rating, with price targets now up to $140.00.

Rhumbline Advisers decreased its position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,552 shares of the transportation company's stock after selling 5,283 shares during the period. Rhumbline Advisers owned approximately 0.28% of SkyWest worth $9,746,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of SkyWest during the first quarter valued at about $1,075,000. GK Wealth Management LLC lifted its holdings in shares of SkyWest by 2.4% in the 1st quarter. GK Wealth Management LLC now owns 4,600 shares of the transportation company's stock valued at $402,000 after acquiring an additional 106 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of SkyWest by 47.2% in the 1st quarter. Intech Investment Management LLC now owns 47,497 shares of the transportation company's stock valued at $4,150,000 after acquiring an additional 15,239 shares during the last quarter. United Services Automobile Association bought a new position in shares of SkyWest in the 1st quarter valued at about $227,000. Finally, Caxton Associates LLP bought a new position in shares of SkyWest in the 1st quarter valued at about $2,108,000. Hedge funds and other institutional investors own 81.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. 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 report on Friday, July 25th. Evercore ISI increased their price target on shares of SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, SkyWest presently has an average rating of "Buy" and a consensus target price of $126.75.

SkyWest Stock Down 0.5%

NASDAQ:SKYW traded down $0.56 during trading hours on Tuesday, reaching $103.95. The company's stock had a trading volume of 170,412 shares, compared to its average volume of 399,724. The company has a market capitalization of $4.20 billion, a P/E ratio of 10.56, a price-to-earnings-growth 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 quick ratio of 0.63 and a current ratio of 0.73. The stock has a 50 day moving average price of $114.30 and a two-hundred day moving average price of $101.15.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 10.62% and a return on equity of 16.69%. SkyWest's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.82 earnings per share. Equities analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other SkyWest news, CAO Eric Woodward sold 7,000 shares of SkyWest stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $116.67, for a total value of $816,690.00. Following the transaction, the chief accounting officer directly owned 47,810 shares of the company's stock, valued at approximately $5,577,992.70. The trade was a 12.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wade J. Steel sold 17,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $118.26, for a total transaction of $2,010,420.00. Following the sale, the insider directly owned 102,416 shares in the company, valued at $12,111,716.16. This trade represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,186 shares of company stock valued at $10,440,398. 1.20% of the stock is currently owned by company insiders.

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.