SkyWest CFO Sells Shares Amid Company Buybacks
On July 29, SkyWest Inc.'s Chief Financial Officer Robert J. Simmons sold 25,000 shares at a weighted average price of $110.49 for approximately $2.8 million. This sale represented about 21% of his direct equity stake in the company and left him with around $10.3 million worth of remaining shares as of July 29, according to an SEC Form 4 filing. The transaction occurred just one day after another executive's stock sale and follows a period where SkyWest reported strong revenue growth but softer profits due to rising fuel costs. The company also announced additional buybacks totaling $250 million while reducing total debt from $2.4 billion to $2.3 billion in the second quarter. Investors are advised to monitor these insider sales alongside ongoing business performance and capital return strategies, particularly as volatility in fuel prices may continue affecting profitability.
Tickers: $SKYW
Topics: insider selling SEC filing SkyWest