Brokerages Set Sky Harbour Group Co. (NYSE:SKYH) PT at $12.75

Sky Harbour Group Co. (NYSE:SKYH) has been given an average recommendation of “Buy” by the five analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $12.75.

SKYH has been the subject of a number of recent analyst reports. Noble Financial upgraded shares of Sky Harbour Group to a “strong-buy” rating in a report on Monday, May 18th. Roth Capital reiterated a “buy” rating and issued a $12.50 price objective on shares of Sky Harbour Group in a report on Tuesday, August 18th. Weiss Ratings upgraded Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, September 3rd. BTIG Research reissued a “buy” rating and set a $13.00 target price on shares of Sky Harbour Group in a research note on Monday. Finally, Wall Street Zen lowered Sky Harbour Group from a “sell” rating to a “strong sell” rating in a research note on Saturday.

Sky Harbour Group Trading Up 1.4%

NYSE:SKYH opened at $10.15 on Friday. The company’s 50-day moving average price is $10.46 and its 200-day moving average price is $9.93. The company has a market cap of $777.69 million, a P/E ratio of -56.39 and a beta of 1.31. Sky Harbour Group has a twelve month low of $8.22 and a twelve month high of $11.70.

Sky Harbour Group (NYSE:SKYH) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. Sky Harbour Group had a return on equity of 6.45% and a net margin of 2.73%.The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $9.44 million. On average, analysts expect that Sky Harbour Group will post -0.52 earnings per share for the current year.

Insider Transactions at Sky Harbour Group

In other Sky Harbour Group news, Director Andrew Gessow bought 5,000 shares of Sky Harbour Group stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $10.85 per share, for a total transaction of $54,250.00. Following the acquisition, the director directly owned 22,910 shares in the company, valued at $248,573.50. This represents a 27.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders bought 7,000 shares of company stock worth $74,380. 40.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Altai Capital Management L.P. purchased a new position in Sky Harbour Group during the 2nd quarter worth $7,039,000. RMR Capital Management LLC acquired a new stake in shares of Sky Harbour Group in the 1st quarter worth $1,170,000. Squarepoint Ops LLC boosted its holdings in shares of Sky Harbour Group by 81.7% in the second quarter. Squarepoint Ops LLC now owns 100,888 shares of the company’s stock valued at $993,000 after acquiring an additional 45,349 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Sky Harbour Group by 154.7% in the second quarter. California State Teachers Retirement System now owns 2,932 shares of the company’s stock valued at $298,000 after acquiring an additional 1,781 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Sky Harbour Group during the second quarter worth about $472,000. Institutional investors and hedge funds own 14.75% of the company’s stock.

About Sky Harbour Group

Sky Harbour Group Corporation (NYSE: SKYH) develops, owns and operates aviation infrastructure for business and private aviation. The company focuses on purpose-built “Hangar Campuses” that provide aircraft owners and operators with secure, high-quality facilities for storing and managing private aircraft.

Its campuses are designed to offer more than aircraft storage, incorporating amenities such as private hangars, pilot and passenger facilities, office space, and other services intended to support business aviation activity.