SkyWest, Inc. (NASDAQ:SKYW) Short Interest Down 18.2% in April

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

Analyst Ratings Changes

Several brokerages have weighed in on SKYW. Raymond James lowered their price objective on SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. The Goldman Sachs Group raised shares of SkyWest from a "neutral" rating to a "buy" rating and dropped their price target for the company from $119.00 to $117.00 in a research report on Tuesday, April 8th. Finally, StockNews.com cut shares of SkyWest from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th.

Insider Activity at SkyWest

In related news, VP Greg Wooley sold 14,545 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert J. Simmons sold 6,000 shares of SkyWest 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 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. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. LMG Wealth Partners LLC lifted its stake in shares of SkyWest by 5.7% in the 1st quarter. LMG Wealth Partners LLC now owns 21,033 shares of the transportation company's stock valued at $1,838,000 after purchasing an additional 1,142 shares during the period. Segall Bryant & Hamill LLC lifted its position in SkyWest by 8.1% during the first quarter. Segall Bryant & Hamill LLC now owns 29,053 shares of the transportation company's stock valued at $2,538,000 after buying an additional 2,177 shares during the period. Massachusetts Financial Services Co. MA lifted its position in SkyWest by 34.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 79,937 shares of the transportation company's stock valued at $6,984,000 after buying an additional 20,615 shares during the period. Hohimer Wealth Management LLC grew its position in shares of SkyWest by 4.7% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,829 shares of the transportation company's stock worth $247,000 after buying an additional 126 shares during the period. Finally, Edgestream Partners L.P. increased its stake in shares of SkyWest by 618.1% in the 1st quarter. Edgestream Partners L.P. now owns 49,822 shares of the transportation company's stock worth $4,353,000 after acquiring an additional 42,884 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company's stock.

SkyWest Trading Up 4.0 %

Shares of SkyWest stock traded up $3.63 during midday trading on Friday, reaching $93.81. 416,757 shares of the company's stock traded hands, compared to its average volume of 395,121. The stock has a 50 day moving average of $88.30 and a 200-day moving average of $100.77. SkyWest has a 12 month low of $64.61 and a 12 month high of $135.57. The company has a market cap of $3.80 billion, a PE ratio of 12.07 and a beta of 1.83. 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 issued its quarterly earnings data on Thursday, April 24th. The transportation company reported $2.42 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $946.13 million. During the same period in the prior year, the business earned $1.45 EPS. The company's revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities analysts expect that SkyWest will post 9.01 EPS for the current fiscal year.

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.