RMR Capital Management LLC Buys New Position in Sky Harbour Group Co. $SKYH

Key Points

• RMR Capital Management acquired 121,468 shares of Sky Harbour Group, valued at approximately $1.17 million, giving it a 0.16% stake. Institutional investors collectively own 14.75% of the company.
• Sky Harbour reported quarterly revenue of $8.72 million and an EPS loss of $0.16, missing analyst expectations for both revenue and earnings. Analysts expect a full-year loss of $0.54 per share.
• The stock opened at $10.47, while analysts maintain a “Moderate Buy” consensus rating with a $13.00 target price; an insider also purchased 5,000 shares, and company insiders own 40.70% of the stock.

RMR Capital Management LLC bought a new stake in shares of Sky Harbour Group Co. (NYSE:SKYH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 121,468 shares of the company's stock, valued at approximately $1,170,000. RMR Capital Management LLC owned 0.16% of Sky Harbour Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in shares of Sky Harbour Group by 145.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,012 shares of the company's stock worth $49,000 after acquiring an additional 2,971 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Sky Harbour Group during the fourth quarter valued at approximately $83,000. Quadrant Capital Group LLC bought a new stake in Sky Harbour Group during the third quarter worth approximately $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Sky Harbour Group by 68.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company's stock worth $114,000 after purchasing an additional 4,721 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Sky Harbour Group by 9.9% during the fourth quarter. Deutsche Bank AG now owns 15,007 shares of the company's stock worth $135,000 after purchasing an additional 1,357 shares in the last quarter. 14.75% of the stock is currently owned by institutional investors.

Sky Harbour Group Stock Performance

Shares of NYSE:SKYH opened at $10.47 on Friday. The stock has a market capitalization of $801.65 million, a price-to-earnings ratio of 261.88 and a beta of 1.32. Sky Harbour Group Co. has a 1-year low of $8.22 and a 1-year high of $11.17. The company has a 50 day moving average price of $9.70 and a 200 day moving average price of $9.60.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last posted 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). Sky Harbour Group had a net margin of 63.95% and a return on equity of 6.83%. The company had revenue of $8.72 million during the quarter, compared to the consensus estimate of $9.96 million. On average, sell-side analysts expect that Sky Harbour Group Co. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Roth Capital initiated coverage on Sky Harbour Group in a research note on Friday. They set a "buy" rating for the company. Weiss Ratings raised Sky Harbour Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, July 6th. Finally, Noble Financial upgraded Sky Harbour Group to a "strong-buy" rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.00.

Insider Activity

In related news, Director Andrew J. Gessow bought 5,000 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $8.95 per share, with a total value of $44,750.00. Following the completion of the transaction, the director directly owned 17,910 shares of the company's stock, valued at approximately $160,294.50. This trade 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 is available at this link. 40.70% of the stock is owned by company insiders.

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.

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