Victory Capital Management Inc. Sells 17,001 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Victory Capital Management Inc. trimmed its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 3.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 533,137 shares of the transportation company's stock after selling 17,001 shares during the quarter. Victory Capital Management Inc. owned approximately 1.32% of SkyWest worth $53,383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Pitcairn Co. bought a new stake in SkyWest in the 3rd quarter valued at about $535,000. Summit Global Investments bought a new stake in shares of SkyWest during the third quarter valued at approximately $539,000. JPMorgan Chase & Co. boosted its position in shares of SkyWest by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 357,510 shares of the transportation company's stock worth $30,396,000 after buying an additional 11,169 shares during the period. Barclays PLC grew its holdings 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 in the last quarter. Finally, BNP Paribas Financial Markets increased its position in SkyWest by 104.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,549 shares of the transportation company's stock valued at $1,917,000 after acquiring an additional 11,494 shares during the period. 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 SkyWest stock in a transaction on Tuesday, February 18th. The stock was 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 of the company's stock, valued at approximately $7,267,563.01. This trade represents a 17.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert J. Simmons sold 6,000 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $113.57, for a total value 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. This trade represents a 3.31 % 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.

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Analyst Ratings Changes

A number of research analysts have issued reports on SKYW shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $119.00 price target on shares of SkyWest in a research report on Friday, November 15th. Raymond James reiterated an "outperform" rating and issued a $130.00 target price (up previously from $120.00) on shares of SkyWest in a research report on Friday, January 31st.

SkyWest Price Performance

SKYW stock traded up $2.02 during trading hours on Tuesday, hitting $83.48. 683,501 shares of the stock traded hands, compared to its average volume of 445,906. The stock has a 50-day simple moving average of $106.66 and a 200 day simple moving average of $99.30. The company has a market cap of $3.37 billion, a P/E ratio of 10.74 and a beta of 2.00. SkyWest, Inc. has a one year low of $64.30 and a one 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.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share 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 earned $0.42 earnings per share. Equities analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current 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.