SkyWest CFO Sells Shares Amid Stock Buybacks
On July 29, SkyWest's Chief Financial Officer Robert J. Simmons sold 25,000 shares of the company 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 firm and left him with around 93,902 remaining shares valued at roughly $10.3 million as of July 30. This insider transaction occurred just one day after SkyWest's CEO also sold stock, raising questions among investors about potential signals from top executives. Despite these sales, the company recently authorized an additional $250 million in buybacks and reported strong second-quarter revenue growth to $1.1 billion while reducing total debt. SkyWest operates as a regional airline with significant leasing operations and has demonstrated solid financial performance despite rising fuel costs impacting profitability.
Tickers: $SKYW
Topics: insider_sales stock_repurchase