1,467,439 Shares in SkyWest, Inc. (NASDAQ:SKYW) Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC purchased a new position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,467,439 shares of the transportation company's stock, valued at approximately $146,935,000. Wealthfront Advisers LLC owned about 3.64% of SkyWest as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SKYW. Wealth Enhancement Advisory Services LLC bought a new stake in shares of SkyWest in the 3rd quarter valued at approximately $226,000. Janney Montgomery Scott LLC grew its holdings in shares of SkyWest by 2.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 20,249 shares of the transportation company's stock valued at $1,722,000 after buying an additional 516 shares during the period. Principal Financial Group Inc. raised its stake in shares of SkyWest by 9.1% in the 3rd quarter. Principal Financial Group Inc. now owns 216,574 shares of the transportation company's stock valued at $18,413,000 after purchasing an additional 18,047 shares during the period. Summit Global Investments bought a new stake in shares of SkyWest in the third quarter worth $539,000. Finally, CWA Asset Management Group LLC bought a new stake in SkyWest during the third quarter worth about $628,000. 81.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SKYW shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $119.00 price target on shares of SkyWest in a report on Friday, November 15th. Raymond James reissued an "outperform" rating and issued a $130.00 price objective (up previously from $120.00) on shares of SkyWest in a research note on Friday, January 31st.

Remove Ads

SkyWest Price Performance

Shares of SkyWest stock opened at $81.46 on Tuesday. The business's 50 day simple moving average is $106.66 and its two-hundred day simple moving average is $99.30. SkyWest, Inc. has a one year low of $64.30 and a one year high of $135.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. The stock has a market capitalization of $3.29 billion, a P/E ratio of 10.48 and a beta of 2.00.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same period last year, the firm posted $0.42 earnings per share. Analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Transactions at SkyWest

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.