Sky Harbour Group (NYSE:SKYH) Trading Up 1.1% – Still a Buy?

Shares of Sky Harbour Group Co. (NYSE:SKYH) traded up 1.1% on Friday . The stock traded as high as $9.34 and last traded at $9.22. 99,006 shares were traded during trading, a decline of 45% from the average session volume of 181,632 shares. The stock had previously closed at $9.12.

Analysts Set New Price Targets

Several research analysts have recently commented on SKYH shares. Weiss Ratings lowered shares of Sky Harbour Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 15th. Noble Financial upgraded shares of Sky Harbour Group to a “strong-buy” rating in a research report on Monday, May 18th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Sky Harbour Group in a research note on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $13.00.

Sky Harbour Group Trading Up 1.1%

The stock has a market cap of $705.61 million, a P/E ratio of 230.50 and a beta of 1.32. The company’s fifty day simple moving average is $9.81 and its 200-day simple moving average is $9.41.

Sky Harbour Group (NYSE:SKYH) last issued its quarterly 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). The company had revenue of $8.73 million for the quarter, compared to analyst estimates of $9.96 million. Sky Harbour Group had a return on equity of 6.83% and a net margin of 63.95%. As a group, analysts expect that Sky Harbour Group Co. will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Sky Harbour Group

In other Sky Harbour Group news, Director Andrew J. Gessow purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $8.95 per share, with a total value of $44,750.00. Following the acquisition, the director directly owned 17,910 shares of the company’s stock, valued at $160,294.50. This trade represents a 38.73% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Omaha Corp Boston sold 331,500 shares of Sky Harbour Group 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 sale, 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 SEC filing for this sale provides additional information. Company insiders own 40.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. RMR Capital Management LLC acquired a new position in Sky Harbour Group in the first quarter valued at about $1,170,000. Bank of America Corp DE grew its position in 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 valued at $3,602,000 after acquiring an additional 6,545 shares during the last quarter. Yorkville Advisors Global LP grew its position in Sky Harbour Group by 80.0% in the first quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company’s stock valued at $867,000 after acquiring an additional 40,000 shares during the last quarter. First Manhattan CO. LLC. bought a new position in Sky Harbour Group in the fourth quarter valued at about $1,203,000. Finally, Barclays PLC grew its position in Sky Harbour Group by 9.1% in the fourth quarter. Barclays PLC now owns 33,262 shares of the company’s stock valued at $298,000 after acquiring an additional 2,785 shares during the last quarter. Institutional investors and hedge funds own 14.75% of the company’s stock.

Sky Harbour Group Company Profile

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.