MorganRosel Wealth Management LLC Cuts Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

MorganRosel Wealth Management LLC trimmed its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 24.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,249 shares of the transportation company’s stock after selling 4,286 shares during the period. MorganRosel Wealth Management LLC’s holdings in SkyWest were worth $1,327,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of SkyWest in the third quarter valued at approximately $31,000. Sound Income Strategies LLC acquired a new position in shares of SkyWest in the fourth quarter worth $50,000. USA Financial Formulas grew its stake in shares of SkyWest by 63.7% in the fourth quarter. USA Financial Formulas now owns 1,180 shares of the transportation company’s stock worth $118,000 after acquiring an additional 459 shares in the last quarter. GAMMA Investing LLC increased its position in shares of SkyWest by 14.4% during the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the transportation company’s stock worth $156,000 after acquiring an additional 196 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of SkyWest in the third quarter valued at $158,000. 81.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at SkyWest

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

SkyWest Stock Performance

NASDAQ:SKYW opened at $96.25 on Tuesday. SkyWest, Inc. has a 12 month low of $60.19 and a 12 month high of $135.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. The firm has a market capitalization of $3.88 billion, a PE ratio of 12.39 and a beta of 1.98. The business’s fifty day moving average price is $108.40 and its 200 day moving average price is $97.88.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company posted $0.42 EPS. On average, sell-side analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share 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.