SkyWest, Inc. (NASDAQ:SKYW) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. decreased its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 87.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,802 shares of the transportation company’s stock after selling 198,583 shares during the period. SkyWest comprises 2.1% of Phocas Financial Corp.’s portfolio, making the stock its 2nd largest holding. Phocas Financial Corp.’s holdings in SkyWest were worth $2,784,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Glenmede Trust Co. NA grew its position in SkyWest by 0.9% in the third quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company’s stock worth $921,000 after acquiring an additional 98 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in SkyWest by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the transportation company’s stock worth $1,953,000 after purchasing an additional 100 shares in the last quarter. Highland Capital Management LLC increased its position in SkyWest by 6.1% during the fourth quarter. Highland Capital Management LLC now owns 2,783 shares of the transportation company’s stock worth $279,000 after buying an additional 160 shares during the last quarter. GAMMA Investing LLC raised its holdings in SkyWest by 14.4% during the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the transportation company’s stock valued at $156,000 after buying an additional 196 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of SkyWest by 2.6% in the fourth quarter. Handelsbanken Fonder AB now owns 7,800 shares of the transportation company’s stock worth $781,000 after buying an additional 200 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Price Performance

NASDAQ:SKYW opened at $97.86 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. SkyWest, Inc. has a one year low of $60.19 and a one year high of $135.57. The company has a fifty day moving average price of $108.40 and a 200 day moving average price of $97.88. The stock has a market cap of $3.95 billion, a P/E ratio of 12.59 and a beta of 1.98.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.59. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. During the same period in the previous year, the firm earned $0.42 earnings per share. Analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Insiders Place Their Bets

In other SkyWest news, CFO Robert J. Simmons sold 6,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the completion of the transaction, the chief financial officer now owns 175,067 shares in the company, valued at $19,882,359.19. This trade represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Greg Wooley sold 14,545 shares of the business’s 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 in the company, valued at approximately $7,267,563.01. This represents a 17.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on SKYW shares. TD Cowen increased their price objective on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Raymond James reaffirmed an “outperform” rating and set a $130.00 price objective (up from $120.00) on shares of SkyWest in a report on Friday, January 31st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a report on Friday, November 15th.

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.