SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 13.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,972 shares of the transportation company's stock after selling 15,222 shares during the quarter. Franklin Resources Inc. owned approximately 0.23% of SkyWest worth $9,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealthfront Advisers LLC purchased a new stake in shares of SkyWest during the 4th quarter worth approximately $146,935,000. Norges Bank bought a new position in SkyWest in the 4th quarter valued at $23,851,000. Arrowstreet Capital Limited Partnership lifted its position in shares of SkyWest by 57.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 525,722 shares of the transportation company's stock worth $52,641,000 after purchasing an additional 192,543 shares during the last quarter. Barclays PLC increased its stake in SkyWest by 563.8% in the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company's stock worth $13,002,000 after buying an additional 129,901 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of SkyWest by 7.5% in the fourth quarter. American Century Companies Inc. now owns 1,390,300 shares of the transportation company's stock valued at $139,211,000 after purchasing an additional 97,108 shares during the period. Institutional investors own 81.30% of the company's stock.

SkyWest Stock Performance

SKYW traded down $0.10 during trading on Monday, reaching $86.21. 26,991 shares of the company's stock were exchanged, compared to its average volume of 398,622. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. SkyWest, Inc. has a 1 year low of $64.61 and a 1 year high of $135.57. The company's fifty day simple moving average is $94.34 and its 200-day simple moving average is $100.86. The stock has a market capitalization of $3.50 billion, a P/E ratio of 11.10 and a beta of 1.83.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SKYW shares. The Goldman Sachs Group raised SkyWest from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $119.00 to $117.00 in a research report on Tuesday, April 8th. StockNews.com cut SkyWest from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Raymond James lowered their price target on SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd.

Insider Activity

In other 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 owns 175,067 shares of the company's stock, valued at $19,882,359.19. The trade was a 3.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Greg Wooley sold 14,545 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now 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. 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.