U S Global Investors Inc. Has $24.75 Million Position in SkyWest, Inc. $SKYW

U S Global Investors Inc. trimmed its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 11.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 240,403 shares of the transportation company’s stock after selling 29,671 shares during the quarter. SkyWest comprises 2.9% of U S Global Investors Inc.’s portfolio, making the stock its 5th biggest holding. U S Global Investors Inc. owned about 0.59% of SkyWest worth $24,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKYW. NBC Securities Inc. acquired a new stake in SkyWest in the first quarter worth about $32,000. Fifth Third Bancorp increased its position in SkyWest by 38.4% in the second quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock worth $57,000 after purchasing an additional 153 shares during the period. Blue Trust Inc. increased its position in SkyWest by 478.6% in the second quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock worth $58,000 after purchasing an additional 469 shares during the period. TD Private Client Wealth LLC acquired a new stake in SkyWest in the second quarter worth about $71,000. Finally, GAMMA Investing LLC grew its position in shares of SkyWest by 11.5% during the 1st quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company’s stock worth $152,000 after buying an additional 180 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Price Performance

Shares of SKYW opened at $97.24 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.73. The stock has a 50 day simple moving average of $110.08 and a 200 day simple moving average of $102.62. SkyWest, Inc. has a 52-week low of $74.70 and a 52-week high of $135.57. The firm has a market capitalization of $3.93 billion, a PE ratio of 9.89, a P/E/G ratio of 0.99 and a beta of 1.86.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.57. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $979.95 million. During the same period in the previous year, the firm earned $1.82 EPS. SkyWest’s quarterly revenue was up 19.4% compared to the same quarter last year. Sell-side analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SKYW. Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a research report on Wednesday. Evercore ISI boosted their target price on SkyWest from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. Finally, Zacks Research lowered SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, SkyWest currently has a consensus rating of “Buy” and an average target price of $126.75.

Insider Activity

In other SkyWest news, CEO Russell A. Childs sold 26,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $116.06, for a total transaction of $3,017,560.00. Following the completion of the transaction, the chief executive officer owned 404,883 shares of the company’s stock, valued at $46,990,720.98. This represents a 6.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Eric Woodward sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $116.67, for a total value of $816,690.00. Following the transaction, the chief accounting officer directly owned 47,810 shares of the company’s stock, valued at approximately $5,577,992.70. This trade represents a 12.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,186 shares of company stock worth $10,440,398. 2.00% of the stock is currently owned by insiders.

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.