U S Global Investors Inc. Sells 98,820 Shares of SkyWest, Inc. (NASDAQ:SKYW)

U S Global Investors Inc. cut its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 24.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 302,238 shares of the transportation company’s stock after selling 98,820 shares during the quarter. SkyWest comprises approximately 3.0% of U S Global Investors Inc.’s investment portfolio, making the stock its 10th biggest holding. U S Global Investors Inc. owned 0.75% of SkyWest worth $30,263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in SkyWest during the third quarter valued at $31,000. Private Trust Co. NA boosted its position in shares of SkyWest by 157.1% during the fourth quarter. Private Trust Co. NA now owns 491 shares of the transportation company’s stock worth $49,000 after buying an additional 300 shares during the period. Sound Income Strategies LLC purchased a new position in shares of SkyWest in the fourth quarter valued at approximately $50,000. USA Financial Formulas lifted its stake in SkyWest by 63.7% in the fourth quarter. USA Financial Formulas now owns 1,180 shares of the transportation company’s stock valued at $118,000 after buying an additional 459 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in SkyWest by 14.4% during the 4th 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. Institutional investors and hedge funds own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. TD Cowen increased their target price on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. 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. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a research report on Friday, November 15th.

Insider Activity at SkyWest

In other news, VP Greg Wooley sold 14,545 shares of the company’s 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 completion of the sale, the vice president now directly owns 68,737 shares of the company’s stock, valued at $7,267,563.01. This represents a 17.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert J. Simmons sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $113.57, for a total transaction of $681,420.00. Following the sale, 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 disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

SkyWest Price Performance

NASDAQ:SKYW opened at $97.94 on Friday. 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 firm has a market cap of $3.95 billion, a P/E ratio of 12.60 and a beta of 1.98. The business’s 50-day moving average price is $108.32 and its 200 day moving average price is $98.07. SkyWest, Inc. has a 52-week low of $61.09 and a 52-week high of $135.57.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the business posted $0.42 earnings per share. As a group, sell-side analysts predict 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.