Bank of New York Mellon Corp Reduces Position in SkyWest, Inc. (NASDAQ:SKYW)

Bank of New York Mellon Corp cut its stake in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 3.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 453,191 shares of the transportation company's stock after selling 15,224 shares during the quarter. Bank of New York Mellon Corp owned about 1.12% of SkyWest worth $45,378,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of SkyWest by 8,402.9% in the 3rd quarter. International Assets Investment Management LLC now owns 2,891 shares of the transportation company's stock valued at $246,000 after acquiring an additional 2,857 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in SkyWest in the third quarter valued at $226,000. Janney Montgomery Scott LLC boosted its holdings in SkyWest by 2.6% in the third quarter. Janney Montgomery Scott LLC now owns 20,249 shares of the transportation company's stock valued at $1,722,000 after purchasing an additional 516 shares during the last quarter. Hanseatic Management Services Inc. grew its position in SkyWest by 2.6% during the 3rd quarter. Hanseatic Management Services Inc. now owns 12,443 shares of the transportation company's stock worth $1,058,000 after purchasing an additional 316 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of SkyWest by 9.1% during the 3rd quarter. Principal Financial Group Inc. now owns 216,574 shares of the transportation company's stock valued at $18,413,000 after buying an additional 18,047 shares during the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, CFO Robert J. Simmons sold 6,000 shares of the firm's stock in a transaction that occurred 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 owns 175,067 shares in the company, valued at $19,882,359.19. This trade represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Greg Wooley sold 14,545 shares of SkyWest stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 directly owns 68,737 shares in the company, valued at $7,267,563.01. This represents a 17.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

SkyWest Price Performance

Shares of NASDAQ:SKYW traded down $6.61 during trading on Monday, reaching $81.46. 828,651 shares of the company's stock traded hands, compared to its average volume of 440,524. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. SkyWest, Inc. has a fifty-two week low of $64.30 and a fifty-two week high of $135.57. The company has a 50-day simple moving average of $107.05 and a 200-day simple moving average of $99.25. The firm has a market cap of $3.29 billion, a PE ratio of 10.48 and a beta of 2.00.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, beating analysts' consensus estimates 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 in the previous year, the firm earned $0.42 earnings per share. As a group, analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.