SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by Quest Partners LLC

Quest Partners LLC trimmed its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 40.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,874 shares of the transportation company’s stock after selling 4,609 shares during the quarter. Quest Partners LLC’s holdings in SkyWest were worth $584,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SKYW. NBC Securities Inc. grew its position in shares of SkyWest by 1,368.0% during the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after buying an additional 342 shares in the last quarter. Kings Path Partners LLC acquired a new position in SkyWest during the 2nd quarter worth approximately $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of SkyWest in the 2nd quarter valued at approximately $54,000. CWM LLC raised its holdings in shares of SkyWest by 57.3% in the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock valued at $63,000 after purchasing an additional 279 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of SkyWest by 45.9% during the 2nd quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock worth $76,000 after purchasing an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Up 2.1 %

Shares of NASDAQ SKYW opened at $111.90 on Friday. The business has a 50-day moving average price of $94.46 and a 200 day moving average price of $83.49. The stock has a market cap of $4.51 billion, a PE ratio of 19.13 and a beta of 1.93. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. SkyWest, Inc. has a 52-week low of $45.42 and a 52-week high of $116.47.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.24. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. During the same period in the prior year, the company earned $0.55 earnings per share. The company’s revenue was up 19.1% compared to the same quarter last year. Equities research analysts forecast that SkyWest, Inc. will post 7.16 earnings per share for the current year.

Analysts Set New Price Targets

SKYW has been the topic of a number of analyst reports. Raymond James raised their price target on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen boosted their target price on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Insider Buying and Selling at SkyWest

In other SkyWest news, Director Ronald J. Mittelstaedt sold 25,000 shares of SkyWest stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total value of $2,801,500.00. Following the transaction, the director now directly owns 11,283 shares in the company, valued at approximately $1,264,372.98. This trade represents a 68.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Wade J. Steel sold 19,079 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total value of $1,993,373.92. Following the sale, the insider now owns 97,654 shares of the company’s stock, valued at $10,202,889.92. This trade represents a 16.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,467 shares of company stock worth $10,082,596. 2.00% of the stock is owned by company 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.