SkyWest, Inc. (NASDAQ:SKYW) Director Ronald J. Mittelstaedt Sells 25,000 Shares

SkyWest, Inc. (NASDAQ:SKYW) Director Ronald J. Mittelstaedt sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total value of $2,801,500.00. Following the transaction, the director now directly owns 11,283 shares of the company’s stock, valued at approximately $1,264,372.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

SkyWest Stock Up 1.2 %

NASDAQ:SKYW opened at $112.90 on Friday. SkyWest, Inc. has a twelve month low of $41.96 and a twelve month high of $115.03. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 19.30 and a beta of 1.93. The company has a quick ratio of 0.74, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average price is $88.06 and its two-hundred day moving average price is $81.17.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The business had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. Equities research analysts expect that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SkyWest

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its position in SkyWest by 90.2% during the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock worth $45,225,000 after buying an additional 261,349 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of SkyWest by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock worth $94,510,000 after buying an additional 165,670 shares during the period. Millennium Management LLC grew its stake in SkyWest by 27.7% in the 2nd quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after buying an additional 96,830 shares during the last quarter. Nicholas Investment Partners LP raised its holdings in SkyWest by 82.9% in the 2nd quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock valued at $15,451,000 after acquiring an additional 85,356 shares during the period. Finally, SW Investment Management LLC lifted its position in SkyWest by 13.2% during the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock worth $49,242,000 after acquiring an additional 70,000 shares during the last quarter. 81.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. TD Cowen increased their target price on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James boosted their price target on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and a consensus target price of $101.33.

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.