Quest Partners LLC Cuts Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Quest Partners LLC lessened its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 40.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,874 shares of the transportation company’s stock after selling 4,609 shares during the quarter. Quest Partners LLC’s holdings in SkyWest were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. NBC Securities Inc. lifted its holdings in shares of SkyWest by 1,368.0% in the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after buying an additional 342 shares during the period. Kings Path Partners LLC acquired a new stake in SkyWest in the second quarter valued at $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of SkyWest during the 2nd quarter worth $54,000. CWM LLC grew its stake in shares of SkyWest by 57.3% during the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after purchasing an additional 279 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of SkyWest by 45.9% in the 2nd quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 292 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Trading Up 2.1 %

Shares of SKYW opened at $111.90 on Friday. SkyWest, Inc. has a 1-year low of $45.42 and a 1-year high of $116.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $94.46 and a 200-day simple moving average of $83.49. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 19.13 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The company had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. Equities analysts forecast that SkyWest, Inc. will post 7.16 EPS for the current fiscal year.

Insider Transactions at SkyWest

In related news, CEO Russell A. Childs sold 27,903 shares of SkyWest stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total value of $3,110,347.41. Following the transaction, the chief executive officer now owns 349,548 shares in the company, valued at approximately $38,964,115.56. This trade represents a 7.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Eric Woodward sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total value of $446,120.00. Following the sale, the chief accounting officer now owns 44,426 shares of the company’s stock, valued at $4,954,831.78. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,467 shares of company stock worth $10,082,596 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SKYW. Raymond James upped their target price on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen upped their price target on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $105.75.

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.