SkyWest, Inc. $SKYW Stock Position Decreased by Optimize Financial Inc

Optimize Financial Inc cut its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 12.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,387 shares of the transportation company’s stock after selling 344 shares during the period. Optimize Financial Inc’s holdings in SkyWest were worth $209,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. United Services Automobile Association purchased a new stake in shares of SkyWest during the 1st quarter worth about $227,000. Caxton Associates LLP acquired a new position in shares of SkyWest during the 1st quarter valued at about $2,108,000. Petrus Trust Company LTA increased its holdings in shares of SkyWest by 98.1% during the 1st quarter. Petrus Trust Company LTA now owns 6,375 shares of the transportation company’s stock valued at $557,000 after acquiring an additional 3,157 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of SkyWest by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,590 shares of the transportation company’s stock valued at $2,061,000 after acquiring an additional 1,034 shares during the last quarter. Finally, Bosun Asset Management LLC increased its holdings in shares of SkyWest by 79.7% during the 1st quarter. Bosun Asset Management LLC now owns 7,040 shares of the transportation company’s stock valued at $615,000 after acquiring an additional 3,123 shares during the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SkyWest

In related news, Director James L. Welch sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $116.09, for a total transaction of $1,160,900.00. Following the completion of the transaction, the director owned 27,717 shares in the company, valued at $3,217,666.53. This trade represents a 26.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert J. Simmons sold 17,186 shares of the firm’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $117.46, for a total value of $2,018,667.56. Following the sale, the chief financial officer directly owned 114,017 shares of the company’s stock, valued at $13,392,436.82. This represents a 13.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,186 shares of company stock worth $10,440,398 over the last three months. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on SKYW shares. Raymond James Financial increased their price objective on SkyWest from $128.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Evercore ISI increased their price objective on SkyWest from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Finally, Wall Street Zen raised SkyWest from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, SkyWest currently has an average rating of “Buy” and a consensus target price of $126.75.

SkyWest Price Performance

Shares of SKYW stock opened at $107.85 on Wednesday. The stock has a 50 day moving average of $114.28 and a two-hundred day moving average of $100.88. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. SkyWest, Inc. has a 12 month low of $72.70 and a 12 month high of $135.57. The company has a market capitalization of $4.35 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.08 and a beta of 1.92.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, July 24th. The transportation company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.34 by $0.57. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $979.95 million. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.SkyWest’s revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the company earned $1.82 EPS. As a group, equities analysts expect that SkyWest, Inc. will post 9.01 EPS for the current year.

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.