Sky Harbour Group (NYSE:SKYH) Given “Buy” Rating at BTIG Research

Sky Harbour Group (NYSE:SKYH)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a note issued to investors on Thursday, Benzinga reports. They presently have a $13.00 target price on the stock. BTIG Research‘s price objective would suggest a potential upside of 36.83% from the company’s current price.

Several other equities research analysts have also recently weighed in on SKYH. Roth Capital reiterated a “buy” rating and issued a $12.50 target price on shares of Sky Harbour Group in a research note on Tuesday, August 18th. Weiss Ratings upgraded shares of Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen raised shares of Sky Harbour Group from a “strong sell” rating to a “sell” rating in a report on Sunday, September 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $12.75.

Sky Harbour Group Stock Up 4.5%

Shares of SKYH traded up $0.41 during trading hours on Thursday, reaching $9.50. The company’s stock had a trading volume of 293,384 shares, compared to its average volume of 156,697. Sky Harbour Group has a 1-year low of $8.22 and a 1-year high of $11.70. The firm has a market cap of $727.94 million, a price-to-earnings ratio of -52.78 and a beta of 1.35. The company has a 50 day moving average of $9.94 and a two-hundred day moving average of $9.97.

Sky Harbour Group (NYSE:SKYH) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share for the quarter, topping 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 company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $9.44 million. As a group, analysts forecast that Sky Harbour Group will post -0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Francisco Gonzalez purchased 3,850 shares of Sky Harbour Group stock in a transaction dated Friday, October 2nd. The shares were bought at an average cost of $9.25 per share, with a total value of $35,612.50. Following the completion of the transaction, the chief financial officer directly owned 718,538 shares in the company, valued at $6,646,476.50. This trade represents a 0.54% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew J. Gessow purchased 5,000 shares of Sky Harbour Group stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $10.85 per share, for a total transaction of $54,250.00. Following the completion of the transaction, the director owned 22,910 shares of the company’s stock, valued at approximately $248,573.50. This represents a 27.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 13,950 shares of company stock worth $139,568 over the last quarter. 40.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Altai Capital Management L.P. acquired a new stake in shares of Sky Harbour Group during the second quarter worth about $7,039,000. Bank of America Corp DE lifted its holdings in shares of Sky Harbour Group by 1.8% during the 1st quarter. Bank of America Corp DE now owns 374,021 shares of the company’s stock valued at $3,602,000 after purchasing an additional 6,545 shares in the last quarter. Lawson Kroeker Investment Management Inc. NE lifted its holdings in shares of Sky Harbour Group by 6.1% during the 3rd quarter. Lawson Kroeker Investment Management Inc. NE now owns 297,214 shares of the company’s stock valued at $2,815,000 after purchasing an additional 17,125 shares in the last quarter. Penbrook Management LLC grew its position in shares of Sky Harbour Group by 909.7% in the 3rd quarter. Penbrook Management LLC now owns 197,200 shares of the company’s stock valued at $1,867,000 after purchasing an additional 177,670 shares during the period. Finally, RMR Capital Management LLC acquired a new position in shares of Sky Harbour Group in the 1st quarter valued at approximately $1,170,000. 14.75% of the stock is currently owned by institutional investors.

Sky Harbour Group Company Profile

Sky Harbour Group Corporation develops, owns and operates private aviation hangar campuses at airports in the United States. The company focuses on providing purpose-built infrastructure for business aircraft owners and operators, with facilities designed to support the storage, maintenance and operation of private aircraft.

Its airport campuses generally include individual or multi-aircraft hangars, along with amenities such as pilot and crew lounges, office space, parking and other aviation-related services.