Insider Selling: SkyWest, Inc. (NASDAQ:SKYW) Director Sells 25,000 Shares of Stock

SkyWest, Inc. (NASDAQ:SKYW) Director Ronald J. Mittelstaedt sold 25,000 shares of SkyWest stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total value of $2,801,500.00. Following the completion of the transaction, the director now directly owns 11,283 shares in the company, valued at $1,264,372.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

SkyWest Stock Performance

Shares of NASDAQ:SKYW traded up $1.33 during trading on Friday, hitting $112.90. 414,305 shares of the company traded hands, compared to its average volume of 407,833. SkyWest, Inc. has a one year low of $41.96 and a one year high of $115.03. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 19.30 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The business’s fifty day moving average is $87.36 and its 200-day moving average is $80.88.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The company had revenue of $912.79 million during the quarter, compared to analyst estimates of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 EPS. As a group, equities analysts predict that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James upped their price target on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen increased their price target on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, SkyWest presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.33.

Institutional Trading of SkyWest

Several institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in SkyWest by 13,737.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,214 shares of the transportation company’s stock worth $153,000 after acquiring an additional 2,198 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in SkyWest by 140.5% during the first quarter. BNP Paribas Financial Markets now owns 59,692 shares of the transportation company’s stock valued at $4,124,000 after purchasing an additional 34,867 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in SkyWest in the first quarter worth approximately $1,448,000. Texas Permanent School Fund Corp increased its holdings in shares of SkyWest by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 35,834 shares of the transportation company’s stock valued at $2,475,000 after buying an additional 482 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of SkyWest during the 1st quarter worth $279,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

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.