Federated Hermes Inc. Lowers Position in SkyWest, Inc. (NASDAQ:SKYW)

Federated Hermes Inc. trimmed its holdings in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 33.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 188,845 shares of the transportation company's stock after selling 95,566 shares during the period. Federated Hermes Inc. owned 0.47% of SkyWest worth $18,909,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SKYW. Wilmington Savings Fund Society FSB purchased a new stake in SkyWest during the 3rd quarter valued at approximately $31,000. New Age Alpha Advisors LLC acquired a new position in shares of SkyWest in the fourth quarter valued at approximately $39,000. Headlands Technologies LLC purchased a new stake in shares of SkyWest during the fourth quarter worth approximately $45,000. Private Trust Co. NA lifted its holdings in shares of SkyWest by 157.1% during 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. Finally, Sound Income Strategies LLC acquired a new stake in shares of SkyWest during the fourth quarter worth $50,000. Institutional investors and hedge funds own 81.30% of the company's stock.

Insider Transactions at SkyWest

In related news, VP Greg Wooley sold 14,545 shares of the business's 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 sale, the vice president now directly owns 68,737 shares in the company, valued at $7,267,563.01. The trade was a 17.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert J. Simmons sold 6,000 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction 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 trade represents a 3.31 % 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.

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Wall Street Analyst Weigh In

Several brokerages have issued reports on SKYW. The Goldman Sachs Group raised shares of 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 note on Tuesday, April 8th. Raymond James dropped their price target on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Finally, StockNews.com downgraded shares of SkyWest from a "buy" rating to a "hold" rating in a research report on Saturday.

SkyWest Price Performance

SkyWest stock traded down $0.07 during midday trading on Monday, reaching $86.24. The company's stock had a trading volume of 60,858 shares, compared to its average volume of 398,742. The firm has a market capitalization of $3.50 billion, a PE ratio of 11.10 and a beta of 1.83. SkyWest, Inc. has a fifty-two week low of $64.61 and a fifty-two week high of $135.57. The stock's 50 day simple moving average is $94.34 and its 200 day simple moving average is $100.86. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78.

SkyWest (NASDAQ:SKYW - Get Free Report) last released 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 prior year, the company earned $0.42 EPS. On average, equities research analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current year.

SkyWest 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.