Corebridge Financial Inc. Has $2.12 Million Stake in SkyWest, Inc. (NASDAQ:SKYW)

Corebridge Financial Inc. lowered its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 21,120 shares of the transportation company’s stock after selling 1,641 shares during the quarter. Corebridge Financial Inc.’s holdings in SkyWest were worth $2,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealthfront Advisers LLC bought a new position in shares of SkyWest in the fourth quarter valued at $146,935,000. FMR LLC lifted its position in SkyWest by 42.2% in 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 in the last quarter. Barclays PLC boosted its stake in SkyWest by 563.8% during the 3rd 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. American Century Companies Inc. boosted its stake in SkyWest by 7.5% during the 4th quarter. American Century Companies Inc. now owns 1,390,300 shares of the transportation company’s stock valued at $139,211,000 after purchasing an additional 97,108 shares during the last quarter. Finally, Navellier & Associates Inc. increased its holdings in SkyWest by 431.1% during the 4th quarter. Navellier & Associates Inc. now owns 65,338 shares of the transportation company’s stock worth $6,542,000 after purchasing an additional 53,035 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

Insider Activity

In other news, VP Greg Wooley sold 14,545 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $7,267,563.01. This represents a 17.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert J. Simmons sold 6,000 shares of SkyWest stock in a transaction that occurred on Monday, February 10th. The stock was 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 directly owns 175,067 shares in the company, valued at $19,882,359.19. This trade represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James reaffirmed an “outperform” rating and set a $130.00 target price (up previously from $120.00) on shares of SkyWest in a research report on Friday, January 31st.

SkyWest Trading Up 0.8 %

Shares of SKYW stock opened at $88.10 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 11.34 and a beta of 2.00. SkyWest, Inc. has a 52-week low of $64.61 and a 52-week high of $135.57. The company has a 50-day simple moving average of $100.69 and a two-hundred day simple moving average of $100.78.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 EPS 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 business earned $0.42 earnings per share. Research analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

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.