Insider Selling: SkyWest, Inc. (NASDAQ:SKYW) Insider Sells 15,000 Shares of Stock

SkyWest, Inc. (NASDAQ:SKYW) insider Wade J. Steel sold 15,000 shares of SkyWest stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $77.10, for a total transaction of $1,156,500.00. Following the completion of the transaction, the insider now directly owns 116,733 shares of the company’s stock, valued at approximately $9,000,114.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

SkyWest Trading Up 0.3 %

NASDAQ SKYW traded up $0.24 on Friday, hitting $77.79. 287,501 shares of the company were exchanged, compared to its average volume of 466,413. The firm has a market capitalization of $3.13 billion, a P/E ratio of 28.00 and a beta of 1.89. SkyWest, Inc. has a twelve month low of $25.79 and a twelve month high of $79.56. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.81 and a quick ratio of 0.72. The company’s 50 day moving average price is $69.62 and its 200-day moving average price is $57.25.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, April 25th. The transportation company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.21. SkyWest had a return on equity of 5.45% and a net margin of 3.83%. The company had revenue of $804.00 million for the quarter, compared to the consensus estimate of $800.07 million. During the same quarter in the prior year, the company earned ($0.45) EPS. The firm’s quarterly revenue was up 16.4% on a year-over-year basis. Analysts predict that SkyWest, Inc. will post 6.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on SKYW shares. StockNews.com raised shares of SkyWest from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Evercore ISI lifted their price objective on shares of SkyWest from $60.00 to $70.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. TheStreet raised shares of SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd. TD Cowen raised shares of SkyWest from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $55.00 to $68.00 in a report on Monday, February 5th. Finally, Raymond James lifted their price objective on shares of SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.25.

Hedge Funds Weigh In On SkyWest

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in SkyWest in the fourth quarter worth approximately $26,000. GAMMA Investing LLC acquired a new position in SkyWest in the fourth quarter worth approximately $29,000. Strs Ohio bought a new stake in SkyWest during the fourth quarter worth approximately $36,000. Transcendent Capital Group LLC bought a new stake in SkyWest during the fourth quarter worth approximately $52,000. Finally, Salem Investment Counselors Inc. bought a new stake in SkyWest during the fourth quarter worth approximately $57,000. 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.