U S Global Investors Inc. Has $23.60 Million Holdings in SkyWest, Inc. (NASDAQ:SKYW)

U S Global Investors Inc. reduced its stake in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 10.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 270,074 shares of the transportation company's stock after selling 32,164 shares during the period. SkyWest comprises 3.1% of U S Global Investors Inc.'s investment portfolio, making the stock its 5th biggest position. U S Global Investors Inc. owned approximately 0.66% of SkyWest worth $23,596,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new stake in SkyWest in the 1st quarter worth approximately $27,000. NBC Securities Inc. purchased a new stake in SkyWest in the 1st quarter worth approximately $32,000. New Age Alpha Advisors LLC purchased a new stake in SkyWest in the 4th quarter worth approximately $39,000. Headlands Technologies LLC purchased a new stake in SkyWest in the 4th quarter worth approximately $45,000. Finally, Private Trust Co. NA lifted its stake in SkyWest by 157.1% in the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company's stock worth $49,000 after purchasing an additional 300 shares in the last quarter. 81.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SKYW has been the topic of several recent analyst reports. The Goldman Sachs Group upgraded shares of SkyWest from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $119.00 to $117.00 in a research note on Tuesday, April 8th. Raymond James Financial lowered 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 upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a research report on Friday, May 16th.

Insider Buying and Selling

In related news, insider Wade J. Steel sold 15,000 shares of SkyWest stock in a transaction 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 now owns 119,416 shares in the company, valued at $12,063,404.32. This trade represents a 11.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Russell A. Childs sold 17,000 shares of SkyWest stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $100.91, for a total transaction of $1,715,470.00. Following the completion of the transaction, the chief executive officer now owns 449,242 shares in the company, valued at approximately $45,333,010.22. The trade was a 3.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,000 shares of company stock worth $4,994,520 in the last 90 days. 2.00% of the stock is owned by company insiders.

SkyWest Stock Performance

SkyWest stock opened at $103.40 on Friday. The firm's fifty day moving average price is $97.59 and its 200-day moving average price is $99.02. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 0.76. The stock has a market cap of $4.18 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.90. SkyWest, Inc. has a fifty-two week low of $64.61 and a fifty-two week high of $135.57.

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

SkyWest declared that its Board of Directors has approved a share repurchase program on Wednesday, May 7th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

SkyWest Company 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.

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