Nicholas Investment Partners LP Sells 3,028 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Nicholas Investment Partners LP decreased its holdings in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 2.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 126,518 shares of the transportation company's stock after selling 3,028 shares during the period. SkyWest makes up about 1.1% of Nicholas Investment Partners LP's holdings, making the stock its 20th biggest holding. Nicholas Investment Partners LP owned approximately 0.31% of SkyWest worth $12,668,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of SkyWest by 563.8% in the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company's stock valued at $13,002,000 after purchasing an additional 129,901 shares in the last quarter. Savant Capital LLC purchased a new stake in SkyWest during the 4th quarter valued at $242,000. Smartleaf Asset Management LLC boosted its position in SkyWest by 193.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company's stock valued at $87,000 after buying an additional 569 shares during the period. Caprock Group LLC purchased a new stake in SkyWest during the 4th quarter valued at $275,000. Finally, Stratos Wealth Partners LTD. boosted its position in SkyWest by 172.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 29,268 shares of the transportation company's stock valued at $2,931,000 after buying an additional 18,520 shares during the period. Hedge funds and other institutional investors own 81.30% of the company's stock.

Insider Transactions at SkyWest

In related news, VP Greg Wooley sold 14,545 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company's stock.

SkyWest Stock Down 0.8%

Shares of SkyWest stock traded down $0.85 during trading on Monday, hitting $101.83. The company's stock had a trading volume of 66,645 shares, compared to its average volume of 397,078. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. The company has a fifty day simple moving average of $89.84 and a two-hundred day simple moving average of $101.11. The company has a market capitalization of $4.12 billion, a PE ratio of 13.07 and a beta of 1.88. SkyWest, Inc. has a 52 week low of $64.61 and a 52 week high of $135.57.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share (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 company had revenue of $948.46 million during the quarter, compared to analyst estimates of $946.13 million. During the same period last year, the business earned $1.45 EPS. SkyWest's quarterly revenue was up 18.0% compared to the same quarter last year. Equities research analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current year.

SkyWest declared that its Board of Directors has authorized a stock repurchase plan 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 plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SKYW has been the subject of several analyst reports. 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. StockNews.com raised shares of SkyWest from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Raymond James dropped their target price 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.

SkyWest 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.