Bank of New York Mellon Corp Decreases Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

Bank of New York Mellon Corp lessened its position in SkyWest, Inc. (NASDAQ:SKYW) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 453,191 shares of the transportation company’s stock after selling 15,224 shares during the quarter. Bank of New York Mellon Corp owned about 1.12% of SkyWest worth $45,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SKYW. International Assets Investment Management LLC lifted its position in shares of SkyWest by 8,402.9% in the third quarter. International Assets Investment Management LLC now owns 2,891 shares of the transportation company’s stock valued at $246,000 after acquiring an additional 2,857 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of SkyWest in the third quarter valued at approximately $226,000. Janney Montgomery Scott LLC lifted its position in shares of SkyWest by 2.6% in the third quarter. Janney Montgomery Scott LLC now owns 20,249 shares of the transportation company’s stock valued at $1,722,000 after acquiring an additional 516 shares in the last quarter. Hanseatic Management Services Inc. lifted its position in SkyWest by 2.6% during the third quarter. Hanseatic Management Services Inc. now owns 12,443 shares of the transportation company’s stock worth $1,058,000 after buying an additional 316 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in SkyWest by 9.1% during the third quarter. Principal Financial Group Inc. now owns 216,574 shares of the transportation company’s stock worth $18,413,000 after buying an additional 18,047 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Robert J. Simmons sold 6,000 shares of SkyWest stock in a transaction on Monday, February 10th. The stock was sold at an average price of $113.57, for a total value of $681,420.00. Following the completion of the sale, the chief financial officer now directly owns 175,067 shares of the company’s stock, valued at approximately $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Greg Wooley sold 14,545 shares of SkyWest stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total value of $1,537,842.85. Following the completion of the sale, the vice president now directly owns 68,737 shares of the company’s stock, valued at $7,267,563.01. The trade was a 17.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

SkyWest Price Performance

SKYW stock opened at $89.14 on Friday. The business has a fifty day moving average of $107.31 and a two-hundred day moving average of $98.80. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 11.47 and a beta of 1.98. SkyWest, Inc. has a 52-week low of $64.30 and a 52-week high of $135.57.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the business earned $0.42 earnings per share. As a group, research analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on SKYW. Raymond James reiterated an “outperform” rating and set a $130.00 price objective (up previously from $120.00) on shares of SkyWest in a research report on Friday, January 31st. The Goldman Sachs Group reiterated a “neutral” rating and set a $119.00 price objective on shares of SkyWest in a research report on Friday, November 15th.

SkyWest 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.