In a recent transaction, Wade J. Steel, the Chief Commercial Officer of SkyWest Inc. (NASDAQ:SKYW), sold 15,000 shares of the company's common stock. The sale was executed at an average price of $77.10 per share, resulting in a total value of approximately $1.16 million.
This sale occurred on May 9, 2024, with the transaction prices ranging between $76.75 and $77.645 per share. Investors interested in the detailed breakdown of the exact number of shares sold at each price point can request this information directly from SkyWest Inc.
Following the sale, Steel's direct holdings in SkyWest common stock amount to 116,733 shares. Additionally, it is noted that Steel has an indirect ownership of 10,451 shares through a 401K Plan.
The transaction reflects a significant movement in the ownership stakes of SkyWest's senior executive, which may be of interest to current and prospective shareholders. For those tracking insider activity as an indicator of company performance and executive confidence, such transactions provide valuable insights.
SkyWest Inc., headquartered in St. George, Utah, operates a fleet of aircraft serving as a regional airline in the United States. The company's stock is publicly traded on the NASDAQ under the ticker symbol SKYW.
InvestingPro Insights
As investors analyze the recent insider transaction involving SkyWest Inc. (NASDAQ:SKYW), they may also consider the broader financial context provided by InvestingPro data and insights. SkyWest's market capitalization currently stands at $3.13 billion, and the stock is trading close to its 52-week high, with a price percentage of the 52-week high at 97.78%. The company's price-to-earnings (P/E) ratio is 27.83, reflecting investor sentiment about its earnings potential.
InvestingPro Tips highlight that management at SkyWest has been actively engaging in share buybacks, indicating confidence in the company’s value. This is complemented by a high shareholder yield, which may be appealing to investors seeking companies with a strong return of capital. Additionally, analysts have revised their earnings expectations upwards for the upcoming period, suggesting a positive outlook for the company's financial performance. For investors seeking more in-depth analysis, there are 14 additional InvestingPro Tips available for SkyWest at InvestingPro.
For those interested in SkyWest's recent performance, the company has seen a robust one-year price total return of 193.31%, with a particularly strong return over the last three months at 30.73%. This momentum may be relevant for investors considering the stock's growth trajectory. Furthermore, the recent sale by the Chief Commercial Officer may offer an additional data point in assessing the company's outlook.
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