SkyWest, Inc. (NASDAQ:SKYW) CFO Robert J. Simmons Sells 7,783 Shares

SkyWest, Inc. (NASDAQ:SKYW – Get Rating) CFO Robert J. Simmons sold 7,783 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $24.67, for a total value of $192,006.61. Following the sale, the chief financial officer now directly owns 62,283 shares in the company, valued at $1,536,521.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

SkyWest Stock Down 1.1 %

SkyWest stock opened at $24.39 on Friday. SkyWest, Inc. has a fifty-two week low of $20.06 and a fifty-two week high of $53.05. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.84 and a current ratio of 1.02. The firm has a 50 day moving average price of $22.87 and a 200 day moving average price of $27.21. The company has a market capitalization of $1.23 billion, a PE ratio of 14.35 and a beta of 1.78.

SkyWest (NASDAQ:SKYW – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The transportation company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.59. The business had revenue of $799.10 million during the quarter, compared to analysts’ expectations of $723.24 million. SkyWest had a net margin of 2.80% and a return on equity of 6.53%. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 EPS. Research analysts expect that SkyWest, Inc. will post 2.06 earnings per share for the current year.

Institutional Investors Weigh In On SkyWest

Institutional investors and hedge funds have recently made changes to their positions in the business. U S Global Investors Inc. grew its position in SkyWest by 42.1% during the first quarter. U S Global Investors Inc. now owns 3,338,647 shares of the transportation company’s stock worth $96,320,000 after buying an additional 989,747 shares during the period. Renaissance Technologies LLC lifted its stake in shares of SkyWest by 1,409.6% during the first quarter. Renaissance Technologies LLC now owns 422,199 shares of the transportation company’s stock valued at $12,180,000 after buying an additional 394,231 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of SkyWest by 187.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 484,357 shares of the transportation company’s stock valued at $13,974,000 after buying an additional 315,893 shares during the period. State Street Corp raised its stake in SkyWest by 14.4% during the first quarter. State Street Corp now owns 2,442,697 shares of the transportation company’s stock worth $70,472,000 after purchasing an additional 306,987 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in SkyWest during the first quarter worth approximately $6,304,000. 87.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SKYW shares. Evercore ISI cut their target price on SkyWest from $35.00 to $25.00 and set an “in-line” rating on the stock in a research note on Monday, June 27th. Raymond James lowered SkyWest from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on SkyWest from $30.00 to $25.00 in a report on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.20.

About SkyWest

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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.