SkyWest Chief Financial Officer Robert J. Simmons sold 25,000 shares of the regional airline on July 29 for approximately $2.8 million, according to an SEC filing. The sale, executed at a weighted average price of $110.49, reduced his direct holdings by 21% to 93,902 shares worth about $10.2 million. The transaction came one day after the chief executive also sold stock, with both disposals occurring shortly after the company reported second-quarter results that showed a 7% revenue increase to $1.1 billion but softer profit margins due to higher fuel costs. SkyWest, which has a market capitalization of roughly $4.3 billion and trailing twelve-month revenue of $4.2 billion, also authorized an additional $250 million for share buybacks.
SkyWest IncCFO sold 25,000 shares, following CEO sale, after Q2 showed softer margins due to higher fuel costs.