Soltis Investment Advisors LLC Reduces Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Soltis Investment Advisors LLC cut its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 8.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,351 shares of the transportation company’s stock after selling 2,470 shares during the quarter. Soltis Investment Advisors LLC owned 0.07% of SkyWest worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of SKYW. Quest Partners LLC purchased a new stake in SkyWest in the 4th quarter worth approximately $26,000. GAMMA Investing LLC purchased a new stake in SkyWest in the 4th quarter worth approximately $29,000. Strs Ohio purchased a new stake in SkyWest in the 4th quarter worth approximately $36,000. Transcendent Capital Group LLC purchased a new stake in SkyWest in the 4th quarter worth approximately $52,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in SkyWest in the 4th quarter worth approximately $60,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, TD Cowen increased their price objective on SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.67.

SkyWest Stock Down 5.8 %

Shares of SKYW traded down $4.41 on Friday, reaching $71.81. The stock had a trading volume of 459,446 shares, compared to its average volume of 406,557. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 25.92 and a beta of 1.96. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.72 and a current ratio of 0.84. The company has a 50-day simple moving average of $80.11 and a 200-day simple moving average of $70.82. SkyWest, Inc. has a 12-month low of $36.91 and a 12-month high of $87.86.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, July 25th. The transportation company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.09. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. The company had revenue of $867.10 million during the quarter, compared to analyst estimates of $826.56 million. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Sell-side analysts predict that SkyWest, Inc. will post 6.88 EPS for the current year.

Insider Activity at SkyWest

In other SkyWest news, VP Greg Wooley sold 7,415 shares of SkyWest stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $81.27, for a total value of $602,617.05. Following the completion of the sale, the vice president now owns 59,058 shares of the company’s stock, valued at approximately $4,799,643.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Greg Wooley sold 7,415 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $81.27, for a total value of $602,617.05. Following the transaction, the vice president now directly owns 59,058 shares in the company, valued at approximately $4,799,643.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Wade J. Steel sold 15,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $77.10, for a total value of $1,156,500.00. Following the completion of the transaction, the insider now owns 116,733 shares in the company, valued at $9,000,114.30. The disclosure for this sale can be found here. Insiders sold a total of 94,290 shares of company stock valued at $7,282,611 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.