SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in SkyWest, Inc. (NASDAQ:SKYW) by 33.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 188,845 shares of the transportation company’s stock after selling 95,566 shares during the quarter. Federated Hermes Inc. owned approximately 0.47% of SkyWest worth $18,909,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in SkyWest by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 357,510 shares of the transportation company’s stock valued at $30,396,000 after buying an additional 11,169 shares in the last quarter. Barclays PLC increased its holdings in shares of SkyWest by 563.8% in the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock valued at $13,002,000 after acquiring an additional 129,901 shares during the last quarter. Savant Capital LLC acquired a new stake in shares of SkyWest during the 4th quarter valued at approximately $242,000. Tidal Investments LLC bought a new position in SkyWest during the third quarter worth $648,000. Finally, Smartleaf Asset Management LLC lifted its stake in SkyWest by 193.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company’s stock worth $87,000 after purchasing an additional 569 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

SKYW stock opened at $79.41 on Wednesday. SkyWest, Inc. has a 1 year low of $64.61 and a 1 year high of $135.57. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 10.22 and a beta of 1.83. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. The stock’s fifty day moving average is $96.80 and its two-hundred day moving average is $100.72.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SKYW shares. StockNews.com cut shares of SkyWest from a “buy” rating to a “hold” rating in a report on Thursday, April 3rd. The Goldman Sachs Group upgraded shares of SkyWest from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $119.00 to $117.00 in a research note on Tuesday. Finally, Raymond James cut their target price on shares of SkyWest from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd.

Insider Activity

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

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.