Clearbridge Investments LLC Sells 26,270 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Clearbridge Investments LLC lessened its stake in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 13.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 170,717 shares of the transportation company's stock after selling 26,270 shares during the period. Clearbridge Investments LLC owned 0.42% of SkyWest worth $17,094,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKYW. Wilmington Savings Fund Society FSB bought a new position in shares of SkyWest during the 3rd quarter valued at approximately $31,000. New Age Alpha Advisors LLC purchased a new position in SkyWest during the fourth quarter valued at approximately $39,000. Private Trust Co. NA boosted its position in shares of SkyWest by 157.1% in the fourth quarter. Private Trust Co. NA now owns 491 shares of the transportation company's stock worth $49,000 after purchasing an additional 300 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of SkyWest in the fourth quarter worth $50,000. Finally, Jones Financial Companies Lllp raised its position in shares of SkyWest by 117.2% during the 4th quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company's stock valued at $83,000 after purchasing an additional 449 shares during the period. Hedge funds and other institutional investors own 81.30% of the company's stock.

Insiders Place Their Bets

In other SkyWest news, CFO Robert J. Simmons sold 6,000 shares of the business'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 transaction of $681,420.00. Following the sale, the chief financial officer now directly owns 175,067 shares of the company's stock, valued at $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Greg Wooley sold 14,545 shares of the firm's stock in a transaction that occurred on 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 directly owns 68,737 shares of the company's stock, valued at $7,267,563.01. The trade was 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.

Remove Ads

Analyst Ratings Changes

Several brokerages recently weighed in on SKYW. Raymond James dropped their target price on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. StockNews.com cut SkyWest from a "buy" rating to a "hold" rating in a research report on Thursday.

SkyWest Price Performance

SKYW traded down $0.59 during trading on Monday, hitting $79.64. 689,542 shares of the company traded hands, compared to its average volume of 396,623. The company has a market cap of $3.24 billion, a PE ratio of 10.25 and a beta of 1.83. SkyWest, Inc. has a 1 year low of $64.61 and a 1 year high of $135.57. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. The stock's 50-day simple moving average is $98.24 and its two-hundred day simple moving average is $100.89.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its 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 in the previous year, the business earned $0.42 EPS. As a group, sell-side analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

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.