Cornercap Investment Counsel Inc. Sells 6,240 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Cornercap Investment Counsel Inc. trimmed its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 49.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,484 shares of the transportation company’s stock after selling 6,240 shares during the period. Cornercap Investment Counsel Inc.’s holdings in SkyWest were worth $551,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SKYW. NBC Securities Inc. boosted its holdings in shares of SkyWest by 1,368.0% during the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock worth $31,000 after buying an additional 342 shares during the period. Kings Path Partners LLC bought a new stake in shares of SkyWest during the 2nd quarter worth $42,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SkyWest during the 2nd quarter worth $54,000. CWM LLC boosted its holdings in shares of SkyWest by 57.3% during the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after buying an additional 279 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of SkyWest by 45.9% during the 2nd quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock worth $76,000 after buying an additional 292 shares during the period. 81.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on SKYW. TD Cowen increased their price target on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Raymond James increased their price target on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SkyWest currently has an average rating of “Moderate Buy” and an average target price of $105.75.

SkyWest Trading Up 0.5 %

Shares of SKYW stock opened at $111.33 on Friday. SkyWest, Inc. has a 52-week low of $44.71 and a 52-week high of $116.47. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 19.03 and a beta of 1.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. The firm has a fifty day moving average of $91.70 and a 200-day moving average of $82.51.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The company had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. During the same quarter in the prior year, the company posted $0.55 EPS. The business’s revenue was up 19.1% on a year-over-year basis. On average, equities research analysts forecast that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Wade J. Steel sold 19,079 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the sale, the insider now owns 97,654 shares in the company, valued at $10,202,889.92. This trade represents a 16.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Eric Woodward sold 4,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $446,120.00. Following the sale, the chief accounting officer now owns 44,426 shares of the company’s stock, valued at $4,954,831.78. This trade represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,467 shares of company stock worth $10,082,596. 2.00% of the stock is currently owned by corporate 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.