BTIG Research Reaffirms “Buy” Rating for Sky Harbour Group (NYSE:SKYH)

Sky Harbour Group (NYSE:SKYH)‘s stock had its “buy” rating reiterated by BTIG Research in a research note issued on Thursday, Benzinga reports. They presently have a $13.00 target price on the stock. BTIG Research‘s target price suggests a potential upside of 43.33% from the company’s previous close.

Several other research analysts have also recently commented on SKYH. Wall Street Zen upgraded shares of Sky Harbour Group from a “strong sell” rating to a “sell” rating in a report on Sunday, September 20th. Weiss Ratings upgraded shares of Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Roth Capital reiterated a “buy” rating and set a $12.50 price target on shares of Sky Harbour Group in a report on Tuesday, August 18th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $12.75.

Sky Harbour Group Trading Up 0.2%

SKYH stock traded up $0.02 during trading on Thursday, reaching $9.07. 120,118 shares of the stock were exchanged, compared to its average volume of 156,023. The business has a 50 day moving average price of $9.98 and a 200-day moving average price of $9.98. Sky Harbour Group has a 1 year low of $8.22 and a 1 year high of $11.70. The firm has a market capitalization of $694.94 million, a price-to-earnings ratio of -50.39 and a beta of 1.35.

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

Insider Transactions at Sky Harbour Group

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

Hedge Funds Weigh In On Sky Harbour Group

Several hedge funds have recently added to or reduced their stakes in the business. Penbrook Management LLC increased its holdings in Sky Harbour Group by 909.7% during the 3rd quarter. Penbrook Management LLC now owns 197,200 shares of the company’s stock valued at $1,867,000 after acquiring an additional 177,670 shares in the last quarter. GAMMA Investing LLC increased its holdings in Sky Harbour Group by 497.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,379 shares of the company’s stock valued at $32,000 after acquiring an additional 2,813 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Sky Harbour Group by 81.7% during the 2nd 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. Altai Capital Management L.P. purchased a new position in Sky Harbour Group during the 2nd quarter valued at about $7,039,000. Finally, Bank of New York Mellon Corp purchased a new position in Sky Harbour Group during the 2nd quarter valued at about $472,000. 14.75% of the stock is currently owned by hedge funds and other 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.