Insider Buying: Sky Harbour Group (NYSE:SKYH) Director Purchases 5,000 Shares of Stock

Sky Harbour Group Co. (NYSE:SKYH) Director Andrew Gessow purchased 5,000 shares of the stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $8.95 per share, with a total value of $44,750.00. Following the completion of the acquisition, the director directly owned 17,910 shares of the company’s stock, valued at approximately $160,294.50. This represents a 38.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Sky Harbour Group Trading Up 0.7%

Shares of SKYH stock traded up $0.06 on Friday, hitting $8.83. 32,665 shares of the stock were exchanged, compared to its average volume of 136,109. The firm has a market capitalization of $672.42 million, a P/E ratio of 220.35 and a beta of 1.39. The business has a 50-day moving average of $9.90 and a 200 day moving average of $9.43. Sky Harbour Group Co. has a fifty-two week low of $8.22 and a fifty-two week high of $11.28.

Sky Harbour Group (NYSE:SKYH) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm had revenue of $8.73 million for the quarter, compared to analyst estimates of $9.96 million. Sky Harbour Group had a return on equity of 6.83% and a net margin of 63.95%. As a group, research analysts forecast that Sky Harbour Group Co. will post -0.61 EPS for the current fiscal year.

Institutional Trading of Sky Harbour Group

A number of hedge funds have recently made changes to their positions in SKYH. Bank of America Corp DE lifted its position in shares of Sky Harbour Group by 173.7% in the second quarter. Bank of America Corp DE now owns 702,494 shares of the company’s stock valued at $6,863,000 after buying an additional 445,828 shares during the last quarter. First Manhattan CO. LLC. acquired a new stake in shares of Sky Harbour Group in the fourth quarter valued at approximately $1,203,000. RMR Capital Management LLC acquired a new stake in shares of Sky Harbour Group in the first quarter valued at approximately $1,170,000. Geode Capital Management LLC lifted its position in shares of Sky Harbour Group by 32.1% in the second quarter. Geode Capital Management LLC now owns 465,415 shares of the company’s stock valued at $4,548,000 after buying an additional 112,994 shares during the last quarter. Finally, Yorkville Advisors Global LP acquired a new stake in shares of Sky Harbour Group in the fourth quarter valued at approximately $448,000. 14.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SKYH shares. Weiss Ratings cut Sky Harbour Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 15th. BTIG Research reaffirmed a “buy” rating and set a $13.00 price objective on shares of Sky Harbour Group in a research report on Tuesday, March 24th. Finally, Noble Financial raised Sky Harbour Group to a “strong-buy” rating in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.50.

Sky Harbour Group Company Profile

Sky Harbour Group Inc is a U.S.-based real estate development and operating company focused on private aviation infrastructure. The company specializes in the acquisition, design and management of fixed-base operations (FBOs), aircraft hangarage and private terminals that serve business and general aviation operators. By providing expedited ground handling, concierge services and state-of-the-art facilities, Sky Harbour seeks to streamline the operations of private jet owners, fractional-ownership programs and charter operators while reducing congestion at major airports.

Through strategic leases and joint-venture partnerships, Sky Harbour has established a growing presence at key regional and metropolitan airports across the United States.