Sequoia Financial Advisors LLC Reduces Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Sequoia Financial Advisors LLC lessened its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 23.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,494 shares of the transportation company’s stock after selling 1,064 shares during the period. Sequoia Financial Advisors LLC’s holdings in SkyWest were worth $350,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in SkyWest in the 3rd quarter valued at approximately $371,000. Royce & Associates LP lifted its position in shares of SkyWest by 123.0% in the third quarter. Royce & Associates LP now owns 15,571 shares of the transportation company’s stock valued at $1,324,000 after acquiring an additional 8,587 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of SkyWest by 56.3% in the third quarter. Intech Investment Management LLC now owns 18,832 shares of the transportation company’s stock valued at $1,601,000 after acquiring an additional 6,781 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of SkyWest by 5.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 52,163 shares of the transportation company’s stock valued at $4,435,000 after acquiring an additional 2,785 shares during the last quarter. Finally, Navellier & Associates Inc. purchased a new stake in SkyWest during the 3rd quarter worth about $1,046,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Price Performance

Shares of NASDAQ:SKYW opened at $86.81 on Wednesday. The company has a market cap of $3.50 billion, a P/E ratio of 11.17 and a beta of 2.00. The business has a fifty day simple moving average of $104.51 and a 200-day simple moving average of $99.71. SkyWest, Inc. has a 52 week low of $64.30 and a 52 week high of $135.57. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same period in the previous year, the business posted $0.42 earnings per share. Equities research analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Activity at SkyWest

In other news, VP Greg Wooley sold 14,545 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the completion of the sale, the vice president now directly owns 68,737 shares of the company’s stock, valued at $7,267,563.01. The trade was a 17.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert J. Simmons sold 6,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $113.57, for a total value of $681,420.00. Following the sale, the chief financial officer now owns 175,067 shares of the company’s stock, valued at approximately $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Raymond James restated an “outperform” rating and issued a $130.00 target price (up from $120.00) on shares of SkyWest in a report on Friday, January 31st.

SkyWest 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.