Victory Capital Management Inc. Has $41.93 Million Stake in SkyWest, Inc. (NASDAQ:SKYW)

Victory Capital Management Inc. lessened its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 479,870 shares of the transportation company's stock after selling 53,267 shares during the quarter. Victory Capital Management Inc. owned 1.19% of SkyWest worth $41,926,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SKYW. Massachusetts Financial Services Co. MA increased its stake in shares of SkyWest by 34.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 79,937 shares of the transportation company's stock worth $6,984,000 after purchasing an additional 20,615 shares during the last quarter. Hohimer Wealth Management LLC increased its stake in shares of SkyWest by 4.7% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,829 shares of the transportation company's stock worth $247,000 after purchasing an additional 126 shares during the last quarter. Edgestream Partners L.P. increased its stake in shares of SkyWest by 618.1% during the 1st quarter. Edgestream Partners L.P. now owns 49,822 shares of the transportation company's stock worth $4,353,000 after purchasing an additional 42,884 shares during the last quarter. Xponance Inc. increased its stake in shares of SkyWest by 5.9% during the 1st 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. Finally, Cerity Partners LLC increased its stake in shares of SkyWest by 26.6% during the 1st quarter. Cerity Partners LLC now owns 3,484 shares of the transportation company's stock worth $304,000 after purchasing an additional 733 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

SkyWest Price Performance

Shares of SkyWest stock traded down $1.36 during mid-day trading on Friday, reaching $113.15. 416,851 shares of the stock were exchanged, compared to its average volume of 383,189. The company has a market cap of $4.58 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 1.38 and a beta of 1.88. The company has a current ratio of 0.76, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The firm has a 50-day simple moving average of $102.99 and a 200 day simple moving average of $99.61. 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 announced its earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.04 by $0.38. The business had revenue of $948.46 million during 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 firm's revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the company posted $1.45 EPS. On average, sell-side analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

SkyWest declared that its board has authorized a stock repurchase program on Wednesday, May 7th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at SkyWest

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

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.