5,601 Shares in SkyWest, Inc. (NASDAQ:SKYW) Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC acquired a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,601 shares of the transportation company’s stock, valued at approximately $561,000.

Several other large investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of SkyWest during the third quarter worth approximately $31,000. New Age Alpha Advisors LLC bought a new position in SkyWest in the fourth quarter worth approximately $39,000. Headlands Technologies LLC purchased a new position in SkyWest during the 4th quarter worth $45,000. Private Trust Co. NA raised its position in SkyWest by 157.1% during the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 300 shares in the last quarter. Finally, Sound Income Strategies LLC bought a new stake in SkyWest during the 4th quarter valued at $50,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SKYW. Raymond James cut their price target on SkyWest from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. StockNews.com downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a research report on Thursday.

SkyWest Stock Down 5.1 %

Shares of NASDAQ SKYW opened at $80.23 on Monday. The stock has a market capitalization of $3.26 billion, a PE ratio of 10.33 and a beta of 1.83. 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 $64.61 and a 12-month high of $135.57. The stock’s fifty day simple moving average is $98.92 and its two-hundred day simple moving average is $100.90.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.34 earnings per share 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 quarter in the prior year, the company earned $0.42 EPS. As a group, analysts expect that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Insider Activity

In other news, CFO Robert J. Simmons sold 6,000 shares of the firm’s 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Greg Wooley sold 14,545 shares of the company’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 transaction, the vice president now directly 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. Company insiders own 2.00% of the company’s stock.

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.