Pinnacle Wealth Planning Services Inc. Sells 338 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Pinnacle Wealth Planning Services Inc. cut its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,244 shares of the transportation company’s stock after selling 338 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in SkyWest were worth $225,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SKYW. FMR LLC boosted its position in shares of SkyWest by 42.2% during the 3rd quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock valued at $41,162,000 after acquiring an additional 143,661 shares during the last quarter. Barclays PLC lifted its position in SkyWest by 563.8% during the third quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock valued at $13,002,000 after purchasing an additional 129,901 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 valued at $58,051,000 after purchasing an additional 76,007 shares during the last quarter. Navellier & Associates Inc. grew its stake in shares of SkyWest by 431.1% in the 4th 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, Raymond James Financial Inc. bought a new stake in shares of SkyWest in the 4th quarter worth about $2,700,000. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insider Buying and Selling at SkyWest

In other SkyWest news, CFO Robert J. Simmons sold 6,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $113.57, for a total value of $681,420.00. Following the completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Greg Wooley sold 14,545 shares of the company’s stock in a transaction dated 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 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 currently owned by corporate insiders.

SkyWest Stock Performance

Shares of NASDAQ:SKYW opened at $88.07 on Friday. 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, Inc. has a 12 month low of $64.30 and a 12 month high of $135.57. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 11.33 and a beta of 2.00. The firm’s 50-day moving average is $107.05 and its 200 day moving average is $98.90.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the firm earned $0.42 earnings per share. Research analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

Wall Street Analyst Weigh In

SKYW has been the subject of a number of analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $130.00 price target (up previously from $120.00) on shares of SkyWest in a report on Friday, January 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a report on Friday, November 15th.

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.