Everence Capital Management Inc. Sells 7,790 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Everence Capital Management Inc. reduced its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 73.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,870 shares of the transportation company’s stock after selling 7,790 shares during the quarter. Everence Capital Management Inc.’s holdings in SkyWest were worth $287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of SKYW. Pacer Advisors Inc. boosted its holdings in shares of SkyWest by 2.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock valued at $184,855,000 after acquiring an additional 51,180 shares during the last quarter. American Century Companies Inc. boosted its holdings in SkyWest by 16.8% in the second quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock worth $94,510,000 after purchasing an additional 165,670 shares during the last quarter. Geode Capital Management LLC raised its stake in SkyWest by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock valued at $81,697,000 after buying an additional 6,542 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 buying an additional 76,007 shares during the period. Finally, SW Investment Management LLC boosted its stake in shares of 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 buying an additional 70,000 shares during the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

SkyWest Stock Up 0.3 %

SKYW stock opened at $107.84 on Wednesday. The business’s 50-day moving average price is $107.02 and its 200-day moving average price is $90.37. The stock has a market cap of $4.35 billion, a P/E ratio of 18.43 and a beta of 1.98. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. SkyWest, Inc. has a twelve month low of $48.28 and a twelve month high of $117.51.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.24. The business had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, equities research analysts forecast that SkyWest, Inc. will post 7.16 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other SkyWest news, insider Wade J. Steel sold 19,079 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the sale, the insider now directly owns 97,654 shares of the company’s stock, valued at $10,202,889.92. This trade represents a 16.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Eric Woodward sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $446,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 44,426 shares in the company, valued at $4,954,831.78. This trade represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,467 shares of company stock valued at $10,082,596. 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.