SkyWest, Inc. (NASDAQ:SKYW) Sees Significant Decrease in Short Interest

SkyWest, Inc. (NASDAQ:SKYW - Get Free Report) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 1,260,000 shares, a decline of 18.2% from the March 31st total of 1,540,000 shares. Based on an average trading volume of 509,400 shares, the short-interest ratio is presently 2.5 days. Currently, 3.2% of the shares of the company are sold short.

SkyWest Trading Up 3.0 %

Shares of SKYW traded up $2.78 during mid-day trading on Wednesday, hitting $96.85. The company had a trading volume of 168,787 shares, compared to its average volume of 464,411. SkyWest has a 1-year low of $64.61 and a 1-year high of $135.57. The business's 50-day simple moving average is $88.09 and its 200-day simple moving average is $100.72. The stock has a market cap of $3.92 billion, a PE ratio of 12.46 and a beta of 1.88. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $948.46 million during the quarter, compared to analysts' expectations of $946.13 million. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. The business's quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.45 EPS. Sell-side analysts forecast that SkyWest will post 9.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SKYW shares. StockNews.com upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a report on Monday. Raymond James lowered their target price on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group raised SkyWest from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $119.00 to $117.00 in a research note on Tuesday, April 8th.

Insider Activity

In other news, CFO Robert J. Simmons sold 6,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was 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 of the company's stock, valued at approximately $19,882,359.19. This represents a 3.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Greg Wooley sold 14,545 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total value of $1,537,842.85. Following the completion of the sale, the vice president now directly owns 68,737 shares of the company's stock, valued at approximately $7,267,563.01. This trade represents a 17.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Institutional Trading of SkyWest

Several large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its stake in SkyWest by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the transportation company's stock valued at $1,953,000 after acquiring an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in SkyWest by 1.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,495 shares of the transportation company's stock worth $951,000 after purchasing an additional 100 shares during the period. Hohimer Wealth Management LLC raised its holdings in shares of SkyWest by 4.7% during the first 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 period. Summit Investment Advisors Inc. grew its position in shares of SkyWest by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,145 shares of the transportation company's stock valued at $415,000 after buying an additional 131 shares during the last quarter. Finally, Highland Capital Management LLC lifted its holdings in SkyWest by 6.1% in the fourth quarter. Highland Capital Management LLC now owns 2,783 shares of the transportation company's stock worth $279,000 after acquiring an additional 160 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

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.