SkyWest, Inc. (NASDAQ:SKYW) CFO Sells $1,763,750.00 in Stock

SkyWest, Inc. (NASDAQ:SKYW - Get Free Report) CFO Robert J. Simmons sold 17,000 shares of SkyWest stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $103.75, for a total value of $1,763,750.00. Following the completion of the transaction, the chief financial officer now directly owns 131,203 shares of the company's stock, valued at approximately $13,612,311.25. This trade represents a 11.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

SkyWest Stock Up 2.4%

NASDAQ:SKYW traded up $2.42 during midday trading on Friday, reaching $103.26. 185,821 shares of the stock traded hands, compared to its average volume of 387,909. The business has a 50-day moving average of $93.34 and a two-hundred day moving average of $100.36. The stock has a market capitalization of $4.18 billion, a PE ratio of 13.29 and a beta of 1.90. SkyWest, Inc. has a 12-month low of $64.61 and a 12-month high of $135.57. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78.

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, beating the consensus estimate of $2.04 by $0.38. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. The business had revenue of $948.46 million for the quarter, compared to analyst estimates of $946.13 million. During the same quarter last year, the business earned $1.45 earnings per share. The company's revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of research firms have recently commented on SKYW. Raymond James reduced their price target on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen raised shares of SkyWest from a "hold" rating to a "buy" rating in a research note 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 target for the stock from $119.00 to $117.00 in a research note on Tuesday, April 8th.

Institutional Investors Weigh In On SkyWest

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caprock Group LLC acquired a new position in shares of SkyWest during the 4th quarter valued at $275,000. Stratos Wealth Partners LTD. grew its position in SkyWest by 172.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 29,268 shares of the transportation company's stock worth $2,931,000 after purchasing an additional 18,520 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in SkyWest by 32.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 4,688 shares of the transportation company's stock worth $469,000 after purchasing an additional 1,144 shares during the last quarter. Wealthstar Advisors LLC bought a new position in shares of SkyWest in the fourth quarter valued at approximately $1,193,000. Finally, Savant Capital LLC acquired a new stake in SkyWest during the fourth quarter valued at approximately $242,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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.