Corebridge Financial Inc. Has $2.12 Million Position in SkyWest, Inc. (NASDAQ:SKYW)

Corebridge Financial Inc. decreased its stake in SkyWest, Inc. (NASDAQ:SKYW) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,120 shares of the transportation company’s stock after selling 1,641 shares during the period. Corebridge Financial Inc. owned about 0.05% of SkyWest worth $2,115,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its stake in shares of SkyWest by 50.8% in the 3rd quarter. Citigroup Inc. now owns 61,565 shares of the transportation company’s stock valued at $5,234,000 after acquiring an additional 20,752 shares during the last quarter. FMR LLC raised its position in SkyWest by 42.2% in the third quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock valued at $41,162,000 after purchasing an additional 143,661 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of SkyWest during the third quarter valued at about $551,000. BNP Paribas Financial Markets grew its holdings in shares of SkyWest by 104.0% during the third quarter. BNP Paribas Financial Markets now owns 22,549 shares of the transportation company’s stock worth $1,917,000 after purchasing an additional 11,494 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its stake in shares of SkyWest by 0.9% in the third quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company’s stock valued at $921,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Stock Performance

NASDAQ:SKYW opened at $88.10 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. SkyWest, Inc. has a fifty-two week low of $64.61 and a fifty-two week high of $135.57. The company has a 50 day simple moving average of $100.69 and a two-hundred day simple moving average of $100.78. The company has a market capitalization of $3.58 billion, a PE ratio of 11.34 and a beta of 2.00.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.59. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Research analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Raymond James reissued an “outperform” rating and set a $130.00 target price (up from $120.00) on shares of SkyWest in a report on Friday, January 31st.

Insider Activity at SkyWest

In related news, VP Greg Wooley sold 14,545 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the transaction, the vice president now directly owns 68,737 shares of the company’s stock, valued at $7,267,563.01. This represents a 17.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert J. Simmons sold 6,000 shares of SkyWest stock in a transaction on Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the completion of the sale, the chief financial officer now directly owns 175,067 shares of the company’s stock, valued at approximately $19,882,359.19. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate 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.