Wedbush Securities Inc. Has $227,000 Stake in SkyWest, Inc. $SKYW

Wedbush Securities Inc. reduced its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 28.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,202 shares of the transportation company’s stock after selling 885 shares during the quarter. Wedbush Securities Inc.’s holdings in SkyWest were worth $227,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in SKYW. American Century Companies Inc. boosted its stake in shares of SkyWest by 8.3% during the 1st quarter. American Century Companies Inc. now owns 1,505,919 shares of the transportation company’s stock valued at $131,572,000 after buying an additional 115,619 shares during the period. SW Investment Management LLC raised its holdings in shares of SkyWest by 5.9% during the second quarter. SW Investment Management LLC now owns 900,000 shares of the transportation company’s stock worth $92,673,000 after acquiring an additional 50,000 shares in the last quarter. Invesco Ltd. boosted its position in SkyWest by 4.0% during the first quarter. Invesco Ltd. now owns 564,732 shares of the transportation company’s stock valued at $49,341,000 after purchasing an additional 21,723 shares during the last quarter. Nuveen LLC purchased a new position in SkyWest in the first quarter valued at about $37,474,000. Finally, Bandera Partners LLC increased its position in SkyWest by 138.1% in the 1st quarter. Bandera Partners LLC now owns 209,000 shares of the transportation company’s stock worth $18,260,000 after purchasing an additional 121,240 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SKYW shares. Cantor Fitzgerald set a $132.00 price target on SkyWest in a report on Friday, October 31st. Cowen reaffirmed a “buy” rating on shares of SkyWest in a research report on Friday, October 31st. Wall Street Zen cut shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research upgraded shares of SkyWest from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Finally, Evercore ISI raised their price target on shares of SkyWest from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $130.20.

SkyWest Stock Performance

NASDAQ SKYW opened at $98.86 on Friday. The company has a fifty day simple moving average of $101.50 and a 200 day simple moving average of $104.90. SkyWest, Inc. has a 12-month low of $74.70 and a 12-month high of $135.57. The company has a market cap of $3.96 billion, a P/E ratio of 10.06, a PEG ratio of 0.95 and a beta of 1.86. 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 (NASDAQ:SKYW) last announced its earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.25. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 EPS. Sell-side analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SkyWest news, VP Greg Wooley sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total value of $233,660.00. Following the sale, the vice president owned 66,737 shares of the company’s stock, valued at $7,796,883.71. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by insiders.

About SkyWest

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.