Stratos Wealth Partners LTD. Reduces Stock Position in SkyWest, Inc. $SKYW

Stratos Wealth Partners LTD. trimmed its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 9.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,760 shares of the transportation company’s stock after selling 2,533 shares during the period. Stratos Wealth Partners LTD.’s holdings in SkyWest were worth $2,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKYW. Fifth Third Bancorp boosted its holdings in shares of SkyWest by 38.4% in the second quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock worth $57,000 after acquiring an additional 153 shares during the period. Blue Trust Inc. lifted its holdings in SkyWest by 478.6% during the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock worth $58,000 after purchasing an additional 469 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in SkyWest during the 2nd quarter worth about $71,000. GAMMA Investing LLC boosted its stake in SkyWest by 11.5% in the 1st quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company’s stock worth $152,000 after purchasing an additional 180 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in SkyWest by 32.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company’s stock valued at $169,000 after buying an additional 473 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

Insider Buying and Selling at SkyWest

In other SkyWest news, Director James L. Welch sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $116.09, for a total transaction of $1,160,900.00. Following the sale, the director owned 27,717 shares in the company, valued at $3,217,666.53. This trade represents a 26.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Greg Wooley sold 2,000 shares of the company’s stock in a transaction dated 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 owned 66,737 shares of the company’s stock, valued at $7,796,883.71. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,186 shares of company stock valued at $10,440,398. 1.20% of the stock is currently owned by company insiders.

SkyWest Trading Down 1.3%

Shares of SKYW opened at $99.07 on Monday. SkyWest, Inc. has a 1-year low of $74.70 and a 1-year high of $135.57. The company has a market capitalization of $4.00 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.98 and a beta of 1.86. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63. The firm’s 50 day simple moving average is $109.01 and its 200 day simple moving average is $103.19.

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

Analyst Upgrades and Downgrades

SKYW has been the topic of a number of recent analyst reports. Evercore ISI increased their price target on shares of SkyWest from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of SkyWest in a research note on Wednesday, October 8th. Raymond James Financial raised shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $126.75.

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.