UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in SkyWest, Inc. (NASDAQ:SKYW) by 2.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,864 shares of the transportation company’s stock after selling 391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SkyWest were worth $1,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SKYW. Glenmede Trust Co. NA lifted its position in shares of SkyWest by 0.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company’s stock worth $921,000 after purchasing an additional 98 shares during the period. Commonwealth Equity Services LLC lifted its holdings in SkyWest by 1.9% during the second quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company’s stock worth $681,000 after buying an additional 152 shares during the period. Evergreen Capital Management LLC boosted its position in SkyWest by 3.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,660 shares of the transportation company’s stock valued at $465,000 after acquiring an additional 213 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of SkyWest by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company’s stock valued at $1,803,000 after acquiring an additional 214 shares during the period. Finally, CWM LLC increased 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 acquiring an additional 279 shares during the period. Institutional investors own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SKYW. TD Cowen upped their price objective on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group reissued a “neutral” rating and set a $119.00 price target on shares of SkyWest in a research report on Friday, November 15th. Finally, Raymond James lifted their price objective on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, SkyWest has a consensus rating of “Moderate Buy” and an average price target of $105.75.

Insider Buying and Selling at SkyWest

In other news, CFO Robert J. Simmons sold 16,485 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $105.02, for a total value of $1,731,254.70. Following the completion of the transaction, the chief financial officer now directly owns 113,539 shares in the company, valued at $11,923,865.78. This trade represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Eric Woodward sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $446,120.00. Following the transaction, the chief accounting officer now directly owns 44,426 shares of the company’s stock, valued at $4,954,831.78. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,467 shares of company stock worth $10,082,596. 2.00% of the stock is owned by corporate insiders.

SkyWest Stock Down 2.0 %

Shares of SKYW stock opened at $103.33 on Wednesday. The stock’s fifty day moving average price is $104.16 and its 200 day moving average price is $87.86. SkyWest, Inc. has a 1-year low of $48.28 and a 1-year high of $117.51. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 17.68 and a beta of 1.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76.

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