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New Big Money Means SkyWest Inc. (SKYW) Investors Could Reap Benefit

328 institutions hold shares in SkyWest Inc. (SKYW), with 999.83k shares held by insiders accounting for 1.99% while institutional investors hold 90.80% of the company’s shares. The shares outstanding are 50.18M, and float is at 48.77M with Short Float at 2.19%. Institutions hold 89.00% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 7.47 million shares valued at $301.04 million. The investor’s holdings represent 14.85% of the SKYW Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 5.03 million shares valued at $202.82 million to account for 10.00% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 3.54 million shares representing 7.03% and valued at over $142.56 million, while AllianceBernstein, L.P. holds 5.97% of the shares totaling 3.0 million with a market value of $121.09 million.

SkyWest Inc. (NASDAQ: SKYW) is 26.40% higher on its value in year-to-date trading and has touched a low of $21.14 and a high of $61.15 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SKYW stock was last observed hovering at around $51.05 in the last trading session, with the day’s loss setting it -0.1% off its average median price target of $65.00 for the next 12 months. It is also 27.21% off the consensus price target high of $70.00 offered by 7 analysts, but current levels are 2.02% higher than the price target low of $52.00 for the same period.

Currently trading at $50.95, the stock is -3.19% and -7.05% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.37 million and changing -0.20% at the moment leaves the stock 25.92% off its SMA200. SKYW registered 60.22% gain for a year compared to 6-month gain of 71.43%. The firm has a 50-day simple moving average (SMA 50) of $54.24 and a 200-day simple moving average (SMA200) of $44.69.

The stock witnessed a -8.36% loss in the last 1 month and extending the period to 3 months gives it a 24.30%, and is 1.39% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.89% over the week and 3.42% over the month.

SkyWest Inc. (SKYW) has around 12502 employees, a market worth around $2.49B and $2.13B in sales. Fwd P/E is 13.19. Profit margin for the company is -0.40%. Distance from 52-week low is 141.01% and -16.69% from its 52-week high. The company has generated returns on investments over the last 12 months (2.00%).

SkyWest Inc. (SKYW) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for SkyWest Inc. (SKYW) is a “Buy”. 7 analysts offering their recommendations for the stock have an average rating of 1.70, where 1 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

SkyWest Inc. is expected to release its quarterly report on 07/29/2021 and quarterly earnings per share for the current quarter are estimated at -$0.04 with sales reaching $639.97M over the same period.The EPS is expected to shrink by -102.60% this year, but quarterly earnings will post 23.10% year-over-year. Quarterly sales are estimated to grow 82.80% in year-over-year returns.

SkyWest Inc. (SKYW) Insider Activity

A total of 30 insider transactions have happened at SkyWest Inc. (SKYW) in the last six months, with sales accounting for 15 and purchases happening 15 times. The most recent transaction is an insider sale by Childs Russell A, the company’s President & CEO. SEC filings show that Childs Russell A sold 17,000 shares of the company’s common stock on Mar 12 at a price of $59.67 per share for a total of $1.01 million. Following the sale, the insider now owns 0.16 million shares.

SkyWest Inc. disclosed in a document filed with the SEC on Mar 08 that Childs Russell A (President & CEO) sold a total of 41,020 shares of the company’s common stock. The trade occurred on Mar 08 and was made at $58.21 per share for $2.39 million. Following the transaction, the insider now directly holds 0.17 million shares of the SKYW stock.

Still, SEC filings show that on Feb 25, EYRING HENRY J (Director) disposed off 20,252 shares at an average price of $55.53 for $1.12 million. The insider now directly holds 2,600 shares of SkyWest Inc. (SKYW).

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SkyWest Inc. (SKYW): Who are the competitors?

The company’s main competitors (and peers) include Delta Air Lines Inc. (DAL) that is trading 69.77% up over the past 12 months. Southwest Airlines Co. (LUV) is 101.07% up on the 1-year trading charts. Short interest in the company’s stock has risen 29.61% from the last report on Apr 14, 2021 to stand at a total of 1.07 million short shares sold with a short interest ratio of 3.24.

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