26,969 Shares in SkyWest, Inc. (NASDAQ:SKYW) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 26,969 shares of the transportation company's stock, valued at approximately $2,700,000. Raymond James Financial Inc. owned 0.07% of SkyWest at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SKYW. FMR LLC grew its holdings in shares of SkyWest by 42.2% in the 3rd quarter. FMR LLC now owns 484,147 shares of the transportation company's stock worth $41,162,000 after purchasing an additional 143,661 shares during the last quarter. Barclays PLC boosted its position in SkyWest by 563.8% in the third quarter. Barclays PLC now owns 152,940 shares of the transportation company's stock valued at $13,002,000 after buying an additional 129,901 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in SkyWest by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company's stock worth $58,051,000 after buying an additional 76,007 shares during the last quarter. Navellier & Associates Inc. increased its holdings in shares of SkyWest by 431.1% during the fourth quarter. Navellier & Associates Inc. now owns 65,338 shares of the transportation company's stock worth $6,542,000 after buying an additional 53,035 shares in the last quarter. Finally, Citigroup Inc. raised its stake in shares of SkyWest by 50.8% in the third 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. 81.30% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at SkyWest

In other news, CFO Robert J. Simmons sold 6,000 shares of the 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 owns 175,067 shares of the company's stock, valued at $19,882,359.19. This represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Greg Wooley sold 14,545 shares of the firm's stock in a transaction 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 transaction, 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. 2.00% of the stock is owned by company insiders.

SkyWest Price Performance

Shares of SKYW traded up $2.73 during mid-day trading on Wednesday, hitting $90.83. 372,722 shares of the company traded hands, compared to its average volume of 393,060. 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 has a market capitalization of $3.69 billion, a price-to-earnings ratio of 11.69 and a beta of 2.00. The business has a 50-day moving average of $100.19 and a 200 day moving average of $100.71. SkyWest, Inc. has a one year low of $64.61 and a one year high of $135.57.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced 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 last year, the business posted $0.42 EPS. As a group, equities analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Raymond James dropped their price target on SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday.

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.