Victory Capital Management Inc. Sells 922 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Victory Capital Management Inc. lowered its position in SkyWest, Inc. (NASDAQ:SKYW) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 550,138 shares of the transportation company’s stock after selling 922 shares during the quarter. Victory Capital Management Inc. owned about 1.37% of SkyWest worth $46,773,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. increased its holdings in shares of SkyWest by 1,368.0% in the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after purchasing an additional 342 shares during the period. Kings Path Partners LLC bought a new position in SkyWest in the second quarter valued at $42,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in SkyWest in the second quarter valued at $54,000. CWM LLC increased its stake in SkyWest by 57.3% in the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock valued at $63,000 after acquiring an additional 279 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in SkyWest by 45.9% in the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after acquiring an additional 292 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.

Insider Transactions at SkyWest

In other SkyWest news, CEO Russell A. Childs sold 27,903 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.47, for a total value of $3,110,347.41. Following the completion of the sale, the chief executive officer now directly owns 349,548 shares in the company, valued at $38,964,115.56. This trade represents a 7.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronald J. Mittelstaedt sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total transaction of $2,801,500.00. Following the completion of the sale, the director now owns 11,283 shares of the company’s stock, 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. Over the last ninety days, insiders sold 92,467 shares of company stock worth $10,082,596. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Raymond James increased their target price on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen raised their price objective on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note 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 research note on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, SkyWest has an average rating of “Moderate Buy” and an average target price of $105.75.

SkyWest Stock Performance

SkyWest stock opened at $111.33 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average of $90.99 and a 200-day moving average of $82.26. The firm has a market cap of $4.49 billion, a P/E ratio of 19.03 and a beta of 1.93. SkyWest, Inc. has a 1-year low of $44.71 and a 1-year high of $116.47.

SkyWest (NASDAQ:SKYW) last posted its 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 analyst estimates of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. SkyWest’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. Sell-side analysts expect that SkyWest, Inc. will post 7.16 EPS for the current 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.