Insider Selling: SkyWest (NASDAQ:SKYW) VP Sells 2,000 Shares of Stock

SkyWest, Inc. (NASDAQ:SKYW - Get Free Report) VP Greg Wooley sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total value of $233,660.00. Following the completion of the transaction, the vice president directly owned 66,737 shares in the company, valued at approximately $7,796,883.71. This trade represents a 2.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SkyWest Stock Performance

• Does Delta's Descent To Its 50-Day Line Offer A Buy Opportunity?

Shares of SKYW stock opened at $114.47 on Friday. The company's 50 day moving average is $109.00 and its 200 day moving average is $100.08. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.78. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 1.12 and a beta of 1.98. SkyWest, Inc. has a 52-week low of $72.70 and a 52-week high of $135.57.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its earnings results on Thursday, July 24th. The transportation company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.57. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $979.95 million. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. On average, sell-side analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

SkyWest announced that its Board of Directors has approved a share buyback plan on Wednesday, May 7th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of SkyWest

Hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of SkyWest by 1,075.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 60,181 shares of the transportation company's stock valued at $5,302,000 after acquiring an additional 55,062 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of SkyWest by 5.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,322 shares of the transportation company's stock worth $290,000 after acquiring an additional 186 shares during the period. GAMMA Investing LLC lifted its holdings in SkyWest by 11.5% in the first quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock valued at $152,000 after acquiring an additional 180 shares during the period. SG Americas Securities LLC purchased a new stake in SkyWest during the first quarter worth $1,007,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of SkyWest during the first quarter valued at $209,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SKYW shares. Raymond James Financial raised their target price on shares of SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Evercore ISI lifted their price target on SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Finally, Wall Street Zen raised SkyWest from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $126.75.

Check Out Our Latest Stock Report on SkyWest

About SkyWest

(Get Free Report)

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.

Featured Articles

• Five stocks we like better than SkyWest
• How is Compound Interest Calculated?
• Can Identity Security Fuel CrowdStrike’s Next Growth Phase?
• Should You Add These Warren Buffett Stocks to Your Portfolio?
• Broadcom Named in Apple’s $100B U.S. Investment Plan
• What is the S&P 500 and How It is Distinct from Other Indexes
• 3 Reasons Salesforce Is a Bargain Right Now

This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].