Sky Harbour Group Co. (NYSE:SKYH – Get Free Report)’s share price rose 1.1% on Friday . The company traded as high as $9.34 and last traded at $9.22. Approximately 99,006 shares traded hands during trading, a decline of 45% from the average daily volume of 181,632 shares. The stock had previously closed at $9.12.
Analyst Ratings Changes
SKYH has been the subject of a number of analyst reports. Weiss Ratings lowered Sky Harbour Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 15th. Noble Financial raised Sky Harbour Group to a “strong-buy” rating in a research report on Monday, May 18th. Finally, BTIG Research reaffirmed a “buy” rating and set a $13.00 price target on shares of Sky Harbour Group in a research report on Tuesday, March 24th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.
Check Out Our Latest Analysis on SKYH
Sky Harbour Group Stock Up 1.1%
Sky Harbour Group (NYSE:SKYH – Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Sky Harbour Group had a net margin of 63.95% and a return on equity of 6.83%. The firm had revenue of $8.73 million during the quarter, compared to analyst estimates of $9.96 million. On average, equities research analysts forecast that Sky Harbour Group Co. will post -0.5 earnings per share for the current year.
Insider Buying and Selling at Sky Harbour Group
In related news, major shareholder Omaha Corp Boston sold 331,500 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $9.05, for a total value of $3,000,075.00. Following the transaction, the insider directly owned 8,666,163 shares of the company’s stock, valued at $78,428,775.15. This represents a 3.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew J. Gessow bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $8.95 per share, for a total transaction of $44,750.00. Following the completion of the transaction, the director owned 17,910 shares in the company, valued at $160,294.50. This trade represents a 38.73% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 40.77% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Sky Harbour Group
Several hedge funds have recently made changes to their positions in the company. RMR Capital Management LLC acquired a new position in shares of Sky Harbour Group in the 1st quarter valued at $1,170,000. Bank of America Corp DE increased its position in shares of Sky Harbour Group by 1.8% in the 1st quarter. Bank of America Corp DE now owns 374,021 shares of the company’s stock valued at $3,602,000 after acquiring an additional 6,545 shares during the period. Yorkville Advisors Global LP grew its position in Sky Harbour Group by 80.0% during the 1st quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company’s stock worth $867,000 after purchasing an additional 40,000 shares during the period. First Manhattan CO. LLC. acquired a new stake in Sky Harbour Group during the 4th quarter worth about $1,203,000. Finally, Barclays PLC grew its position in Sky Harbour Group by 9.1% during the 4th quarter. Barclays PLC now owns 33,262 shares of the company’s stock worth $298,000 after purchasing an additional 2,785 shares during the period. 14.75% of the stock is owned by institutional investors and hedge funds.
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.
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