SkyWest, Inc. $SKYW Stock Position Lowered by Ritholtz Wealth Management

Ritholtz Wealth Management lessened its position in SkyWest, Inc. (NASDAQ:SKYW) by 34.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,182 shares of the transportation company’s stock after selling 6,387 shares during the period. Ritholtz Wealth Management’s holdings in SkyWest were worth $1,223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SKYW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of SkyWest by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock worth $2,061,000 after buying an additional 1,034 shares in the last quarter. United Services Automobile Association bought a new stake in shares of SkyWest in the 1st quarter worth $227,000. M&T Bank Corp raised its stake in shares of SkyWest by 7.6% in the 2nd quarter. M&T Bank Corp now owns 2,825 shares of the transportation company’s stock worth $290,000 after buying an additional 199 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of SkyWest by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after buying an additional 339 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of SkyWest by 8.8% in the 2nd quarter. First Trust Advisors LP now owns 85,577 shares of the transportation company’s stock worth $8,812,000 after buying an additional 6,938 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

Insider Buying and Selling at SkyWest

In other news, insider Wade J. Steel sold 20,629 shares of SkyWest stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the transaction, the insider owned 77,438 shares in the company, valued at approximately $8,249,470.14. The trade was a 21.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

SkyWest Stock Performance

Shares of NASDAQ SKYW opened at $94.91 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.28 and a beta of 1.63. The stock’s fifty day simple moving average is $97.29 and its 200 day simple moving average is $99.12. SkyWest, Inc. has a 52-week low of $82.14 and a 52-week high of $123.94.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.04). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $993.12 million. SkyWest had a return on equity of 16.35% and a net margin of 10.56%.The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.34 earnings per share. As a group, sell-side analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SKYW shares. Weiss Ratings reissued a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. Citigroup decreased their target price on SkyWest from $112.00 to $101.00 and set a “neutral” rating on the stock in a report on Friday, March 20th. Cantor Fitzgerald set a $122.00 target price on SkyWest in a report on Monday, January 26th. TD Cowen decreased their target price on SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Finally, Zacks Research cut SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.