Raymond James Financial Inc. Purchases New Shares in SkyWest, Inc. (NASDAQ:SKYW)

Raymond James Financial Inc. acquired a new stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 26,969 shares of the transportation company's stock, valued at approximately $2,700,000. Raymond James Financial Inc. owned 0.07% of SkyWest at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SKYW. Wilmington Savings Fund Society FSB bought a new stake in SkyWest during the 3rd quarter worth approximately $31,000. New Age Alpha Advisors LLC bought a new stake in shares of SkyWest in the fourth quarter worth $39,000. Headlands Technologies LLC acquired a new stake in SkyWest in the fourth quarter valued at $45,000. Private Trust Co. NA raised its position in SkyWest by 157.1% during 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 during the last quarter. Finally, Sound Income Strategies LLC acquired a new position in SkyWest during the 4th quarter worth about $50,000. Institutional investors own 81.30% of the company's stock.

Insider Activity

In other SkyWest news, VP Greg Wooley sold 14,545 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the completion of the sale, the vice president now owns 68,737 shares in the company, valued at approximately $7,267,563.01. The trade was a 17.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert J. Simmons sold 6,000 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the completion of the transaction, the chief financial officer now directly owns 175,067 shares in the company, valued at $19,882,359.19. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

SKYW has been the subject of several recent research reports. StockNews.com cut SkyWest from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. The Goldman Sachs Group raised shares of SkyWest from a "neutral" rating to a "buy" rating and decreased their target price for the company from $119.00 to $117.00 in a research report on Tuesday, April 8th. Finally, Raymond James 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 report on Wednesday, April 2nd.

SkyWest Stock Up 4.0 %

NASDAQ:SKYW traded up $3.63 during trading hours on Friday, reaching $93.81. The company had a trading volume of 416,757 shares, compared to its average volume of 394,810. 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 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 12.07 and a beta of 1.83. The business's 50-day simple moving average is $88.30 and its two-hundred day simple moving average is $100.70.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its earnings results on Thursday, April 24th. The transportation company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.04 by $0.38. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. The company had revenue of $948.46 million during the quarter, compared to the consensus estimate of $946.13 million. During the same period last year, the business posted $1.45 EPS. The firm's revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities analysts expect that SkyWest, Inc. will post 9.01 earnings per share 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.