SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 6.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,775 shares of the transportation company’s stock after selling 270 shares during the period. M&T Bank Corp’s holdings in SkyWest were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pitcairn Co. purchased a new stake in SkyWest in the 3rd quarter worth approximately $535,000. Nicholas Investment Partners LP boosted its holdings in SkyWest by 82.9% during the second quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock worth $15,451,000 after buying an additional 85,356 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in SkyWest during the second quarter worth $520,000. Cornercap Investment Counsel Inc. acquired a new stake in SkyWest during the second quarter valued at $1,044,000. Finally, Victory Capital Management Inc. increased its holdings in SkyWest by 90.2% in the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after buying an additional 261,349 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SkyWest

In other news, insider Wade J. Steel sold 19,079 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total value of $1,993,373.92. Following the completion of the sale, the insider now directly owns 97,654 shares in the company, valued at $10,202,889.92. This represents a 16.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction 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 approximately $11,923,865.78. This represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,467 shares of company stock valued at $10,082,596. 2.00% of the stock is owned by insiders.

SkyWest Stock Down 3.8 %

SKYW opened at $99.40 on Thursday. The company has a market cap of $4.01 billion, a PE ratio of 16.99 and a beta of 1.96. SkyWest, Inc. has a twelve month low of $48.28 and a twelve month high of $117.51. The company has a 50-day moving average price of $104.73 and a 200 day moving average price of $88.14. 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 (NASDAQ:SKYW) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. The business had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Sell-side analysts expect that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Cowen increased their target price on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Raymond James upped their price target on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued 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 given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.75.

SkyWest 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.