U S Global Investors Inc. Decreases Stock Holdings in SkyWest, Inc. $SKYW

U S Global Investors Inc. lowered its stake in SkyWest, Inc. (NASDAQ:SKYW) by 11.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 240,403 shares of the transportation company’s stock after selling 29,671 shares during the period. SkyWest makes up 2.9% of U S Global Investors Inc.’s holdings, making the stock its 5th biggest holding. U S Global Investors Inc.’s holdings in SkyWest were worth $24,754,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. American Century Companies Inc. increased its position in shares of SkyWest by 8.3% in the first quarter. American Century Companies Inc. now owns 1,505,919 shares of the transportation company’s stock worth $131,572,000 after purchasing an additional 115,619 shares during the period. Invesco Ltd. increased its position in shares of SkyWest by 4.0% in the first quarter. Invesco Ltd. now owns 564,732 shares of the transportation company’s stock worth $49,341,000 after purchasing an additional 21,723 shares during the period. Nuveen LLC bought a new position in shares of SkyWest in the first quarter worth $37,474,000. Principal Financial Group Inc. increased its position in shares of SkyWest by 2.9% in the first quarter. Principal Financial Group Inc. now owns 233,175 shares of the transportation company’s stock worth $20,372,000 after purchasing an additional 6,574 shares during the period. Finally, Bandera Partners LLC increased its position in shares of SkyWest by 138.1% in the first quarter. Bandera Partners LLC now owns 209,000 shares of the transportation company’s stock worth $18,260,000 after purchasing an additional 121,240 shares during the period. Institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

Shares of SKYW stock opened at $97.24 on Friday. The business’s 50-day moving average price is $110.08 and its 200-day moving average price is $102.62. SkyWest, Inc. has a 12 month low of $74.70 and a 12 month high of $135.57. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.99 and a beta of 1.86. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.57. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $979.95 million. During the same period last year, the firm posted $1.82 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. Equities research analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Zacks Research cut SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research report on Wednesday. Finally, Evercore ISI lifted their target price on SkyWest from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, SkyWest has a consensus rating of “Buy” and a consensus price target of $126.75.

Insider Activity

In other news, insider Wade J. Steel sold 17,000 shares of SkyWest stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $118.26, for a total transaction of $2,010,420.00. Following the sale, the insider directly owned 102,416 shares of the company’s stock, valued at approximately $12,111,716.16. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert J. Simmons sold 17,186 shares of SkyWest stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $117.46, for a total value of $2,018,667.56. Following the sale, the chief financial officer directly owned 114,017 shares in the company, valued at $13,392,436.82. The trade was a 13.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,186 shares of company stock valued at $10,440,398. 2.00% of the stock is currently owned by company insiders.

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.