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

Sky Harbour Group Co. (NYSE:SKYH) Director Andrew Gessow bought 5,000 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $8.95 per share, with a total value of $44,750.00. Following the transaction, the director owned 17,910 shares of the company’s stock, valued at $160,294.50. The trade was a 38.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Sky Harbour Group Price Performance

Shares of SKYH stock traded up $0.06 on Friday, reaching $8.83. 32,665 shares of the stock were exchanged, compared to its average volume of 136,109. The stock has a market cap of $672.42 million, a PE ratio of 220.35 and a beta of 1.39. Sky Harbour Group Co. has a one year low of $8.22 and a one year high of $11.28. The stock has a 50 day moving average price of $9.90 and a 200 day moving average price of $9.43.

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

Institutional Investors Weigh In On Sky Harbour Group

Several large investors have recently modified their holdings of the business. RMR Capital Management LLC bought a new stake in shares of Sky Harbour Group in the first quarter worth about $1,170,000. Bank of America Corp DE increased its holdings in shares of Sky Harbour Group by 1.8% in the first quarter. Bank of America Corp DE now owns 374,021 shares of the company’s stock worth $3,602,000 after acquiring an additional 6,545 shares in the last quarter. Yorkville Advisors Global LP increased its holdings in shares of Sky Harbour Group by 80.0% in the first 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 in the last quarter. First Manhattan CO. LLC. bought a new stake in shares of Sky Harbour Group in the fourth quarter worth about $1,203,000. Finally, Barclays PLC increased its holdings in shares of Sky Harbour Group by 9.1% in the fourth quarter. Barclays PLC now owns 33,262 shares of the company’s stock worth $298,000 after acquiring an additional 2,785 shares in the last quarter. 14.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SKYH shares. BTIG Research reiterated a “buy” rating and issued a $13.00 price objective on shares of Sky Harbour Group in a report on Tuesday, March 24th. Weiss Ratings downgraded Sky Harbour Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 15th. Finally, Noble Financial upgraded Sky Harbour Group to a “strong-buy” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

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.