Stratos Wealth Partners LTD. Has $2.30 Million Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Stratos Wealth Partners LTD. decreased its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,293 shares of the transportation company's stock after selling 2,975 shares during the period. Stratos Wealth Partners LTD. owned 0.06% of SkyWest worth $2,297,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in SKYW. Financial Management Professionals Inc. purchased a new stake in shares of SkyWest in the 1st quarter worth about $27,000. NBC Securities Inc. bought a new stake in shares of SkyWest in the first quarter worth approximately $32,000. New Age Alpha Advisors LLC bought a new position in shares of SkyWest during the 4th quarter valued at $39,000. Headlands Technologies LLC purchased a new stake in SkyWest during the fourth quarter valued at approximately $45,000. Finally, Jones Financial Companies Lllp grew its holdings in SkyWest by 117.2% during the fourth quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company's stock valued at $83,000 after purchasing an additional 449 shares during the period. Institutional investors own 81.30% of the company's stock.

SkyWest Trading Up 0.9%

NASDAQ:SKYW traded up $0.99 during trading hours on Monday, reaching $112.75. 288,909 shares of the stock were exchanged, compared to its average volume of 383,121. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.36 and a beta of 1.88. SkyWest, Inc. has a twelve month low of $64.61 and a twelve month high of $135.57. The company has a quick ratio of 0.66, a current ratio of 0.76 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average of $101.44 and a two-hundred day moving average of $99.20.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its earnings results on Thursday, April 24th. The transportation company reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $2.04 by $0.38. SkyWest had a net margin of 9.89% and a return on equity of 15.41%. The business had revenue of $948.46 million for the quarter, compared to analysts' expectations of $946.13 million. During the same period in the previous year, the company posted $1.45 EPS. The company's quarterly revenue was up 18.0% on a year-over-year basis. On average, equities analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

SkyWest declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 7th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SKYW. Evercore ISI raised shares of SkyWest from an "in-line" rating to an "outperform" rating and set a $120.00 target price for the company in a research note on Tuesday, July 1st. The Goldman Sachs Group raised shares of SkyWest from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $119.00 to $117.00 in a research note on Tuesday, April 8th. Raymond James Financial cut their price objective on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Finally, Wall Street Zen raised SkyWest from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, SkyWest has an average rating of "Buy" and a consensus target price of $120.50.

Insider Activity at SkyWest

In other news, CFO Robert J. Simmons sold 17,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $103.75, for a total transaction of $1,763,750.00. Following the transaction, the chief financial officer directly owned 131,203 shares in the company, valued at $13,612,311.25. This represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wade J. Steel sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $101.02, for a total value of $1,515,300.00. Following the transaction, the insider owned 119,416 shares of the company's stock, valued at approximately $12,063,404.32. This trade represents a 11.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,000 shares of company stock valued at $4,994,520. 2.00% of the stock is owned by corporate 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.