SkyWest, Inc. (NASDAQ:SKYW) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN grew its stake in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 40.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,092 shares of the transportation company's stock after buying an additional 12,223 shares during the period. Wells Fargo & Company MN owned 0.10% of SkyWest worth $4,215,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Louisiana State Employees Retirement System increased its stake in SkyWest by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the transportation company's stock valued at $1,953,000 after purchasing an additional 100 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of SkyWest by 1.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,495 shares of the transportation company's stock worth $951,000 after acquiring an additional 100 shares during the period. Highland Capital Management LLC boosted its position in shares of 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. GAMMA Investing LLC raised its stake in SkyWest by 14.4% during the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the transportation company's stock worth $156,000 after purchasing an additional 196 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of SkyWest by 2.6% in the 4th quarter. Handelsbanken Fonder AB now owns 7,800 shares of the transportation company's stock valued at $781,000 after purchasing an additional 200 shares during the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

SkyWest Stock Down 1.3 %

NASDAQ:SKYW traded down $1.18 during trading hours on Friday, hitting $87.92. The stock had a trading volume of 517,125 shares, compared to its average volume of 396,869. The company has a market cap of $3.57 billion, a PE ratio of 11.32 and a beta of 1.83. The business has a 50 day simple moving average of $89.16 and a two-hundred day simple moving average of $100.72. SkyWest, Inc. has a 1-year low of $64.61 and a 1-year high of $135.57. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The transportation company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $946.13 million. Analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Transactions at SkyWest

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

Analysts Set New Price Targets

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

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.