SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its stake in SkyWest, Inc. (NASDAQ:SKYW) by 31.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,504,038 shares of the transportation company’s stock after selling 687,325 shares during the period. Pacer Advisors Inc. owned 3.73% of SkyWest worth $150,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in SkyWest by 42.2% in the third quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock valued at $41,162,000 after buying an additional 143,661 shares during the last quarter. Barclays PLC increased its holdings in shares of SkyWest by 563.8% in the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock worth $13,002,000 after acquiring an additional 129,901 shares during the period. Millennium Management LLC lifted its position in SkyWest by 27.7% in the 2nd quarter. Millennium Management LLC now owns 445,990 shares of the transportation company’s stock valued at $36,602,000 after purchasing an additional 96,830 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in SkyWest by 12.5% during the 3rd 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 period. Finally, SW Investment Management LLC grew its position in SkyWest by 13.2% in the 2nd quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock worth $49,242,000 after purchasing an additional 70,000 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

Analyst Upgrades and Downgrades

SKYW has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Raymond James lifted their target price on SkyWest from $114.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, December 30th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.25.

Insider Buying and Selling

In related news, CAO Eric Woodward sold 4,000 shares of SkyWest stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total value of $446,120.00. Following the transaction, the chief accounting officer now directly owns 44,426 shares in the company, valued at $4,954,831.78. The trade was a 8.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ronald J. Mittelstaedt sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total value of $2,801,500.00. Following the sale, the director now directly owns 11,283 shares in the company, valued at $1,264,372.98. This trade represents a 68.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,467 shares of company stock valued at $10,082,596 over the last three months. Company insiders own 2.00% of the company’s stock.

SkyWest Price Performance

NASDAQ SKYW opened at $114.11 on Monday. SkyWest, Inc. has a 12 month low of $52.35 and a 12 month high of $117.51. The firm has a market capitalization of $4.60 billion, a PE ratio of 19.51 and a beta of 1.98. The company’s 50 day simple moving average is $108.28 and its 200 day simple moving average is $93.22. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.24. The company had revenue of $912.79 million for 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 firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. As a group, equities research analysts forecast that SkyWest, Inc. will post 7.17 EPS for the current fiscal year.

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.