Key Points
- Director Andrew Gessow bought 5,000 Sky Harbour Group shares at $8.95 each, a $44,750 purchase that raised his direct stake by 38.73% to 17,910 shares.
- Sky Harbour Group shares were up 1.6% to $8.91, leaving the company with a market value of about $678.75 million and a 52-week range of $8.22 to $11.28.
- The company recently missed quarterly expectations, posting an EPS loss of $0.16 versus the expected $0.11 loss and revenue of $8.73 million versus $9.96 million estimated. Analysts currently rate the stock a Moderate Buy with an average target price of $13.50.
Sky Harbour Group Co. (NYSE:SKYH - Get Free Report) Director Andrew Gessow purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $8.95 per share, with a total value of $44,750.00. Following the completion of the acquisition, the director directly owned 17,910 shares of the company's stock, valued at $160,294.50. This represents a 38.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Sky Harbour Group Trading Up 1.6%
SKYH stock opened at $8.91 on Friday. The company has a market capitalization of $678.75 million, a P/E ratio of 222.80 and a beta of 1.39. Sky Harbour Group Co. has a twelve month low of $8.22 and a twelve month high of $11.28. The business has a 50 day simple moving average of $9.90 and a 200-day simple moving average of $9.43.
Sky Harbour Group (NYSE:SKYH - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm had revenue of $8.73 million during the quarter, compared to analyst estimates of $9.96 million. Sky Harbour Group had a net margin of 63.95% and a return on equity of 6.83%. Research analysts predict that Sky Harbour Group Co. will post -0.61 EPS for the current fiscal year.
Institutional Investors Weigh In On Sky Harbour Group
Several hedge funds have recently modified their holdings of the stock. RMR Capital Management LLC acquired a new stake in shares of Sky Harbour Group during the first quarter worth $1,170,000. Bank of America Corp DE lifted its holdings in shares of Sky Harbour Group by 1.8% during the first quarter. Bank of America Corp DE now owns 374,021 shares of the company's stock worth $3,602,000 after purchasing an additional 6,545 shares during the period. Yorkville Advisors Global LP lifted its holdings in shares of Sky Harbour Group by 80.0% during the first 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 shares of Sky Harbour Group during the fourth quarter worth $1,203,000. Finally, Barclays PLC lifted its holdings in shares of Sky Harbour Group by 9.1% during the fourth 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.
Wall Street Analyst Weigh In
SKYH has been the subject of several research analyst reports. Noble Financial raised Sky Harbour Group to a "strong-buy" rating in a report on Monday, May 18th. BTIG Research reissued a "buy" rating and issued a $13.00 price objective on shares of Sky Harbour Group in a report on Tuesday, March 24th. Finally, Weiss Ratings downgraded Sky Harbour Group from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.50.
View Our Latest Stock Analysis on SKYH
About Sky Harbour Group
(
Get Free Report)
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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