State Street Corp Sells 3,027 Shares of SkyWest, Inc. (NASDAQ:SKYW)

State Street Corp lessened its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 0.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,587,040 shares of the transportation company’s stock after selling 3,027 shares during the quarter. State Street Corp owned approximately 3.94% of SkyWest worth $134,930,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CWM LLC increased its holdings in SkyWest by 57.3% in the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock valued at $63,000 after purchasing an additional 279 shares during the period. Bailard Inc. raised its stake in SkyWest by 8.5% during the second quarter. Bailard Inc. now owns 8,900 shares of the transportation company’s stock worth $730,000 after buying an additional 700 shares during the last quarter. Legato Capital Management LLC lifted its holdings in SkyWest by 42.4% in the second quarter. Legato Capital Management LLC now owns 18,895 shares of the transportation company’s stock valued at $1,551,000 after buying an additional 5,624 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in SkyWest during the second quarter valued at $54,000. Finally, Innealta Capital LLC acquired a new position in shares of SkyWest during the 2nd quarter valued at $129,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Stock Down 0.6 %

SkyWest stock opened at $106.60 on Friday. The firm has a 50 day simple moving average of $103.76 and a 200 day simple moving average of $87.52. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 18.22 and a beta of 1.96. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. SkyWest, Inc. has a 1-year low of $48.28 and a 1-year high of $117.51.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, beating 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 company had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. SkyWest’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, analysts predict that SkyWest, Inc. will post 7.16 earnings per share for the current year.

Insider Activity

In related news, CAO Eric Woodward sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $446,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 44,426 shares in the company, valued at $4,954,831.78. The trade was a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $111.47, for a total value of $3,110,347.41. Following the completion of the sale, the chief executive officer now directly owns 349,548 shares in the company, valued at approximately $38,964,115.56. The trade was a 7.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,467 shares of company stock worth $10,082,596 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. TD Cowen lifted their price target 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. Raymond James upped their target price on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, SkyWest presently has an average rating of “Moderate Buy” and a consensus target price of $105.75.

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.