SkyWest, Inc. (NASDAQ:SKYW) Short Interest Down 15.8% in April

SkyWest, Inc. (NASDAQ:SKYW) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 1,191,202 shares, a decline of 15.8% from the March 31st total of 1,414,870 shares. Based on an average trading volume of 358,528 shares, the days-to-cover ratio is presently 3.3 days. Currently, 3.0% of the company’s stock are sold short.

Insider Activity at SkyWest

In related news, insider Wade J. Steel sold 20,629 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total value of $2,197,607.37. Following the transaction, the insider owned 77,438 shares in the company, valued at approximately $8,249,470.14. The trade was a 21.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On SkyWest

Institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its position in SkyWest by 24.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 144,978 shares of the transportation company’s stock worth $14,628,000 after purchasing an additional 28,669 shares during the period. American Century Companies Inc. lifted its position in SkyWest by 3.0% in the third quarter. American Century Companies Inc. now owns 1,612,098 shares of the transportation company’s stock worth $162,209,000 after purchasing an additional 46,744 shares during the period. Teacher Retirement System of Texas lifted its position in SkyWest by 189.7% in the third quarter. Teacher Retirement System of Texas now owns 19,044 shares of the transportation company’s stock worth $1,916,000 after purchasing an additional 12,470 shares during the period. Public Sector Pension Investment Board lifted its position in SkyWest by 10.1% in the third quarter. Public Sector Pension Investment Board now owns 172,424 shares of the transportation company’s stock worth $17,349,000 after purchasing an additional 15,793 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its position in SkyWest by 217.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 36,837 shares of the transportation company’s stock worth $3,707,000 after purchasing an additional 25,246 shares during the period. 81.30% of the stock is owned by institutional investors.

SkyWest Stock Performance

Shares of NASDAQ:SKYW traded up $1.63 during trading on Friday, hitting $83.75. 107,399 shares of the company traded hands, compared to its average volume of 342,333. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.16 and a beta of 1.63. The business’s fifty day moving average is $93.76 and its 200-day moving average is $98.29. SkyWest has a one year low of $80.00 and a one year high of $123.94. The company has a quick ratio of 0.55, a current ratio of 0.62 and a debt-to-equity ratio of 0.66.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, April 23rd. The transportation company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.15 by $0.35. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $993.06 million. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 earnings per share. As a group, equities analysts predict that SkyWest will post 10.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SKYW has been the topic of several recent analyst reports. Cantor Fitzgerald set a $122.00 price target on SkyWest in a research note on Monday, January 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. TD Cowen lowered their price objective on SkyWest from $106.00 to $98.00 and set a “buy” rating for the company in a report on Monday. Finally, Citigroup lowered their price objective on SkyWest from $101.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.00.

SkyWest Company Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.