Sound Income Strategies LLC Acquires New Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Sound Income Strategies LLC bought a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 501 shares of the transportation company’s stock, valued at approximately $50,000.

Other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. raised its holdings in shares of SkyWest by 1,368.0% during the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after acquiring an additional 342 shares during the period. Wilmington Savings Fund Society FSB bought a new position in SkyWest during the 3rd quarter worth about $31,000. GAMMA Investing LLC raised its stake in shares of SkyWest by 47.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 437 shares during the period. USA Financial Formulas lifted its holdings 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 valued at $118,000 after purchasing an additional 459 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of SkyWest during the third quarter worth about $158,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Trading Down 0.1 %

Shares of SkyWest stock opened at $114.11 on Friday. The stock has a market cap of $4.60 billion, a P/E ratio of 19.51 and a beta of 1.98. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. SkyWest, Inc. has a 12-month low of $52.35 and a 12-month high of $117.51. The business’s 50 day moving average is $108.28 and its 200-day moving average is $93.16.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. The firm had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.55 earnings per share. Equities research analysts predict that SkyWest, Inc. will post 7.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. TD Cowen lifted their target price on SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th. Finally, Raymond James increased their target price on shares of SkyWest from $114.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, December 30th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.25.

Insider Buying and Selling

In related news, Director Ronald J. Mittelstaedt sold 25,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total value of $2,801,500.00. Following the sale, the director now owns 11,283 shares in the company, valued at approximately $1,264,372.98. This represents a 68.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Eric Woodward sold 4,000 shares of SkyWest stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $446,120.00. Following the transaction, the chief accounting officer now directly owns 44,426 shares of the company’s stock, valued at approximately $4,954,831.78. This trade represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,467 shares of company stock worth $10,082,596. Company 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.