SkyWest, Inc. (NASDAQ:SKYW) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 9.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 216,574 shares of the transportation company’s stock after buying an additional 18,047 shares during the quarter. Principal Financial Group Inc.’s holdings in SkyWest were worth $18,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SKYW. Allspring Global Investments Holdings LLC raised its stake in shares of SkyWest by 13,737.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,214 shares of the transportation company’s stock valued at $153,000 after acquiring an additional 2,198 shares in the last quarter. SG Americas Securities LLC acquired a new stake in SkyWest in the 1st quarter valued at about $279,000. Sei Investments Co. boosted its stake in shares of SkyWest by 291.4% in the 1st quarter. Sei Investments Co. now owns 54,533 shares of the transportation company’s stock valued at $3,767,000 after buying an additional 40,599 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of SkyWest by 40.6% in the 1st quarter. Russell Investments Group Ltd. now owns 58,888 shares of the transportation company’s stock valued at $4,068,000 after buying an additional 17,003 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of SkyWest by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,180 shares of the transportation company’s stock worth $565,000 after buying an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insider Transactions at SkyWest

In other news, Director Ronald J. Mittelstaedt sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total value of $2,801,500.00. Following the completion of the sale, the director now directly owns 11,283 shares of the company’s stock, valued at approximately $1,264,372.98. This represents a 68.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Russell A. Childs sold 27,903 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total value of $3,110,347.41. Following the transaction, the chief executive officer now directly owns 349,548 shares in the company, valued at approximately $38,964,115.56. This represents a 7.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,467 shares of company stock worth $10,082,596. Corporate insiders own 2.00% of the company’s stock.

SkyWest Stock Down 1.0 %

Shares of NASDAQ:SKYW opened at $110.81 on Friday. The firm has a 50 day simple moving average of $90.28 and a 200-day simple moving average of $82.06. SkyWest, Inc. has a twelve month low of $44.71 and a twelve month high of $116.47. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $4.47 billion, a PE ratio of 18.94 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The firm had revenue of $912.79 million for the quarter, compared to analyst estimates of $896.21 million. During the same period last year, the business earned $0.55 EPS. SkyWest’s revenue for the quarter was up 19.1% compared to the same quarter last year. On average, equities analysts predict that SkyWest, Inc. will post 7.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SKYW shares. Raymond James raised their target price on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Cowen increased their price objective on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $101.33.

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.