Soltis Investment Advisors LLC Trims Stake in SkyWest, Inc. (NASDAQ:SKYW)

Soltis Investment Advisors LLC lessened its stake in SkyWest, Inc. (NASDAQ:SKYW) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,950 shares of the transportation company’s stock after selling 99 shares during the period. Soltis Investment Advisors LLC owned about 0.06% of SkyWest worth $2,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SKYW. Savant Capital LLC purchased a new position in SkyWest during the fourth quarter worth approximately $242,000. Wealthstar Advisors LLC purchased a new position in shares of SkyWest during the 4th quarter valued at approximately $1,193,000. Kestra Private Wealth Services LLC lifted its position in shares of SkyWest by 32.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 4,688 shares of the transportation company’s stock valued at $469,000 after buying an additional 1,144 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in SkyWest by 172.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 29,268 shares of the transportation company’s stock valued at $2,931,000 after acquiring an additional 18,520 shares during the period. Finally, Precision Wealth Strategies LLC purchased a new stake in SkyWest in the 4th quarter worth $229,000. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Price Performance

Shares of NASDAQ SKYW opened at $116.76 on Monday. The firm has a 50-day simple moving average of $109.24 and a 200-day simple moving average of $95.53. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 15.03 and a beta of 1.98. SkyWest, Inc. has a 52 week low of $57.15 and a 52 week high of $135.57.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the company posted $0.42 EPS. On average, equities analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Raymond James reaffirmed an “outperform” rating and set a $130.00 price objective (up from $120.00) on shares of SkyWest in a report on Friday, January 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a research note on Friday, November 15th. Finally, TD Cowen boosted their price objective on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th.

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.