SkyWest, Inc. (NASDAQ:SKYW) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN grew its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 40.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,092 shares of the transportation company's stock after buying an additional 12,223 shares during the period. Wells Fargo & Company MN owned 0.10% of SkyWest worth $4,215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in SkyWest by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 357,510 shares of the transportation company's stock valued at $30,396,000 after purchasing an additional 11,169 shares during the period. Barclays PLC grew its stake in shares of 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. Savant Capital LLC purchased a new stake in shares of SkyWest in the 4th quarter valued at $242,000. Tidal Investments LLC acquired a new position in SkyWest during the 3rd quarter worth about $648,000. Finally, Smartleaf Asset Management LLC boosted its holdings in SkyWest by 193.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company's stock valued at $87,000 after acquiring an additional 569 shares during the period. Institutional investors and hedge funds own 81.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SKYW shares. Raymond James cut their target price 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. The Goldman Sachs Group raised SkyWest from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $119.00 to $117.00 in a research report on Tuesday, April 8th. Finally, StockNews.com cut SkyWest from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th.

Insider Transactions at SkyWest

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 shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the completion of the sale, the chief financial officer now owns 175,067 shares in the company, valued at approximately $19,882,359.19. The trade was a 3.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Greg Wooley sold 14,545 shares of the stock in a transaction 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 transaction, the vice president now directly owns 68,737 shares in the company, valued at $7,267,563.01. This trade 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 Stock Down 1.2 %

SkyWest stock traded down $1.10 during trading on Friday, reaching $88.01. The stock had a trading volume of 344,417 shares, compared to its average volume of 397,013. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. SkyWest, Inc. has a 52-week low of $64.61 and a 52-week high of $135.57. The stock has a market cap of $3.57 billion, a PE ratio of 11.33 and a beta of 1.83. The business has a 50 day moving average price of $89.49 and a 200 day moving average price of $100.71.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its earnings results on Thursday, April 24th. The transportation company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $2.04 by $0.38. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. The firm had revenue of $948.46 million during the quarter, compared to the consensus estimate of $946.13 million. On average, analysts predict that SkyWest, Inc. will post 9.01 EPS 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.