Stratos Wealth Partners LTD. Has $2.45 Million Stake in SkyWest, Inc. $SKYW

Key Points

• Stratos Wealth Partners LTD. reduced its stake in SkyWest, Inc. by 9.6%, holding approximately $2.45 million worth of stock at the end of the last quarter.
• Insider sales include Wade J. Steel selling 17,000 shares and CEO Russell A. Childs selling 26,000 shares, indicating a noticeable decrease in their ownership percentages.
• SkyWest's latest earnings report showed $2.91 EPS, surpassing estimates, with revenues up by 19.4% compared to the same quarter last year.

Stratos Wealth Partners LTD. lowered its holdings in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 9.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,760 shares of the transportation company's stock after selling 2,533 shares during the quarter. Stratos Wealth Partners LTD. owned about 0.06% of SkyWest worth $2,447,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SKYW. Fifth Third Bancorp lifted its stake in shares of SkyWest by 38.4% in the second quarter. Fifth Third Bancorp now owns 551 shares of the transportation company's stock valued at $57,000 after buying an additional 153 shares in the last quarter. Blue Trust Inc. lifted its position in SkyWest by 478.6% in the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company's stock valued at $58,000 after acquiring an additional 469 shares in the last quarter. TD Private Client Wealth LLC acquired a new position in SkyWest during the 2nd quarter valued at about $71,000. GAMMA Investing LLC boosted its stake in SkyWest by 11.5% during the 1st 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in SkyWest by 32.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company's stock worth $169,000 after purchasing an additional 473 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

Insider Buying and Selling

In related news, insider Wade J. Steel sold 17,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $118.26, for a total value of $2,010,420.00. Following the transaction, the insider owned 102,416 shares in the company, valued at approximately $12,111,716.16. This represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Russell A. Childs sold 26,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $116.06, for a total value of $3,017,560.00. Following the transaction, the chief executive officer directly owned 404,883 shares of the company's stock, valued at approximately $46,990,720.98. This trade represents a 6.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,186 shares of company stock worth $10,440,398 in the last three months. Insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on SKYW shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of SkyWest in a research report on Wednesday, October 8th. Raymond James Financial upgraded shares of SkyWest from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Zacks Research downgraded shares of SkyWest from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, Evercore ISI boosted 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $126.75.

SkyWest Trading Down 1.3%

NASDAQ SKYW opened at $99.07 on Monday. The business's fifty day moving average is $109.01 and its 200-day moving average is $103.19. 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 stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.98 and a beta of 1.86. SkyWest, Inc. has a one year low of $74.70 and a one year high of $135.57.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.34 by $0.57. The business 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%. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 earnings per share. Equities research analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

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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