Insider Selling: SkyWest (NASDAQ:SKYW) Insider Sells $2,197,607.37 in Stock

SkyWest, Inc. (NASDAQ:SKYW) insider Wade Steel sold 20,629 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total value of $2,197,607.37. Following the sale, the insider owned 77,438 shares of the company’s stock, valued at $8,249,470.14. This trade represents a 21.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

SkyWest Price Performance

SKYW opened at $104.08 on Friday. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $123.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.55. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 0.70 and a beta of 1.65. The firm’s fifty day moving average price is $102.01 and its two-hundred day moving average price is $103.64.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). SkyWest had a net margin of 10.56% and a return on equity of 16.35%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $993.12 million. During the same period in the previous year, the business earned $2.34 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Transamerica Financial Advisors LLC grew its stake in shares of SkyWest by 273.6% during the 4th quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after acquiring an additional 197 shares during the period. Salomon & Ludwin LLC purchased a new stake in SkyWest during the third quarter valued at about $38,000. Elevation Point Wealth Partners LLC bought a new position in SkyWest during the second quarter worth about $40,000. Johnson Financial Group Inc. bought a new position in SkyWest during the third quarter worth about $62,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after purchasing an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. TD Cowen decreased their price target on SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Zacks Research downgraded SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a research report on Monday, January 26th. Finally, Wall Street Zen downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.83.

About SkyWest

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.