SkyWest, Inc. $SKYW Shares Sold by Rhumbline Advisers

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 holdings in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm 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 quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. GK Wealth Management LLC raised its stake in SkyWest by 2.4% during 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. Hohimer Wealth Management LLC increased its holdings in shares of SkyWest by 4.7% in 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 period. Xponance Inc. raised 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 worth $260,000 after purchasing an additional 166 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 worth $152,000 after purchasing an additional 180 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in SkyWest by 5.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,322 shares of the transportation company's stock valued at $290,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company's stock.

Insiders Place Their Bets

In other news, CAO Eric Woodward sold 7,000 shares of SkyWest stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $116.67, for a total transaction of $816,690.00. Following the completion of the transaction, the chief accounting officer owned 47,810 shares of the company's stock, valued at $5,577,992.70. The trade was a 12.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James L. Welch sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $116.09, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,186 shares of company stock valued at $10,440,398. Company insiders own 2.00% of the company's stock.

SkyWest Price Performance

SKYW stock opened at $108.14 on Thursday. The firm has a 50 day moving average of $114.33 and a 200-day moving average of $100.93. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.06 and a beta of 1.92. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. SkyWest, Inc. has a 12-month low of $72.70 and a 12-month high of $135.57.

SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.57. The firm 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%.SkyWest's quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the business posted $1.82 EPS. As a group, equities analysts expect that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SKYW. Wall Street Zen upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Evercore ISI increased their price target on shares of 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 lifted their price objective on SkyWest from $128.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target 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.

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