SkyWest, Inc. (NASDAQ:SKYW) CFO Robert J. Simmons Sells 7,783 Shares

SkyWest, Inc. (NASDAQ:SKYW – Get Rating) CFO Robert J. Simmons sold 7,783 shares of SkyWest stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $24.67, for a total value of $192,006.61. Following the transaction, the chief financial officer now directly owns 62,283 shares in the company, valued at approximately $1,536,521.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SkyWest Stock Performance

Shares of SKYW stock traded down $0.28 during midday trading on Friday, hitting $24.39. The company had a trading volume of 314,626 shares, compared to its average volume of 565,695. The company’s 50 day simple moving average is $22.91 and its 200 day simple moving average is $27.33. SkyWest, Inc. has a 52-week low of $20.06 and a 52-week high of $53.05. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 14.37 and a beta of 1.78. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.02 and a quick ratio of 0.84.

SkyWest (NASDAQ:SKYW – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The transportation company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.59. SkyWest had a return on equity of 6.53% and a net margin of 2.80%. The firm had revenue of $799.10 million for the quarter, compared to the consensus estimate of $723.24 million. During the same period in the previous year, the business earned $1.22 earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. Research analysts anticipate that SkyWest, Inc. will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of SkyWest

A number of institutional investors have recently modified their holdings of SKYW. CWM LLC boosted its stake in shares of SkyWest by 165.6% in the first quarter. CWM LLC now owns 956 shares of the transportation company’s stock valued at $28,000 after buying an additional 596 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of SkyWest in the fourth quarter valued at approximately $33,000. Quadrant Capital Group LLC boosted its stake in shares of SkyWest by 174.6% in the first quarter. Quadrant Capital Group LLC now owns 1,392 shares of the transportation company’s stock valued at $40,000 after buying an additional 885 shares in the last quarter. First Quadrant LLC CA purchased a new stake in shares of SkyWest in the first quarter valued at approximately $43,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of SkyWest in the first quarter valued at approximately $47,000. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Evercore ISI cut their price target on SkyWest from $35.00 to $25.00 and set an “in-line” rating on the stock in a research report on Monday, June 27th. Deutsche Bank Aktiengesellschaft cut their price target on SkyWest from $30.00 to $25.00 in a research report on Friday, July 29th. The Goldman Sachs Group cut their price target on SkyWest from $62.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 7th. Finally, Raymond James downgraded SkyWest from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 27th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.20.

About SkyWest

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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.