Insider Buying: Sky Harbour Group (NYSE:SKYH) Director Acquires $54,250.00 in Stock

Sky Harbour Group Co. (NYSE:SKYH) Director Andrew Gessow purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $10.85 per share, with a total value of $54,250.00. Following the completion of the purchase, the director 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sky Harbour Group Price Performance

NYSE SKYH traded down $0.10 during trading hours on Tuesday, reaching $10.19. 83,480 shares of the company’s stock traded hands, compared to its average volume of 152,423. Sky Harbour Group Co. has a 52-week low of $8.22 and a 52-week high of $11.70. The firm has a 50-day simple moving average of $10.12 and a 200 day simple moving average of $9.73. The firm has a market cap of $779.46 million, a PE ratio of -56.51 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH) last announced its quarterly earnings data 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 net margin of 2.73% and a return on equity of 6.45%. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $9.44 million. Sell-side analysts forecast that Sky Harbour Group Co. will post -0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Sky Harbour Group

A number of institutional investors have recently made changes to their positions in the company. RMR Capital Management LLC bought a new stake in shares of Sky Harbour Group during the first quarter valued at approximately $1,170,000. Yorkville Advisors Global LP raised its holdings in Sky Harbour Group by 80.0% in the 1st quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company’s stock worth $867,000 after acquiring an additional 40,000 shares during the last quarter. International Assets Investment Management LLC bought a new position in Sky Harbour Group in the 4th quarter valued at approximately $83,000. Wells Fargo & Company MN lifted its position in Sky Harbour Group by 65.4% in the 4th quarter. Wells Fargo & Company MN now owns 23,267 shares of the company’s stock valued at $209,000 after acquiring an additional 9,199 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Sky Harbour Group by 28.6% during the 3rd quarter. Alliancebernstein L.P. now owns 17,080 shares of the company’s stock valued at $169,000 after purchasing an additional 3,800 shares during the last quarter. Hedge funds and other institutional investors own 14.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SKYH. Weiss Ratings upgraded Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 6th. Noble Financial raised Sky Harbour Group to a “strong-buy” rating in a report on Monday, May 18th. Finally, Roth Capital reissued a “buy” rating and issued a $12.50 target price on shares of Sky Harbour Group in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sky Harbour Group presently has an average rating of “Buy” and an average price target of $12.75.

About Sky Harbour Group

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.