Centerpoint Advisors LLC Acquires 58,500 Shares of Sky Harbour Group Co. (NYSEAMERICAN:SKYH)

Key Points

• Centerpoint Advisors LLC has increased its stake in Sky Harbour Group by 50.2%, now holding 175,000 shares, valued at approximately $2.3 million.
• Multiple analysts have rated Sky Harbour Group positively, with a consensus target price of $17.38 and several ratings of "buy" or "strong buy."
• The stock opened at $10.95, with a market capitalization of approximately $827.93 million, indicating its growth potential in the aviation infrastructure sector.

Centerpoint Advisors LLC lifted its position in shares of Sky Harbour Group Co. (NYSEAMERICAN:SKYH - Free Report) by 50.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,000 shares of the company's stock after buying an additional 58,500 shares during the quarter. Sky Harbour Group comprises about 0.8% of Centerpoint Advisors LLC's holdings, making the stock its 18th largest position. Centerpoint Advisors LLC owned 0.23% of Sky Harbour Group worth $2,277,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Sky Harbour Group by 120.9% during the fourth quarter. JPMorgan Chase & Co. now owns 41,668 shares of the company's stock worth $497,000 after acquiring an additional 22,802 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sky Harbour Group by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 301,909 shares of the company's stock worth $3,602,000 after acquiring an additional 50,444 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Sky Harbour Group by 40.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,300 shares of the company's stock worth $75,000 after acquiring an additional 1,807 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Sky Harbour Group by 437.2% during the fourth quarter. Renaissance Technologies LLC now owns 79,500 shares of the company's stock worth $948,000 after acquiring an additional 64,700 shares in the last quarter. Finally, Barclays PLC boosted its stake in Sky Harbour Group by 10.2% during the fourth quarter. Barclays PLC now owns 17,973 shares of the company's stock worth $214,000 after acquiring an additional 1,658 shares in the last quarter. 14.75% of the stock is currently owned by institutional investors and hedge funds.

Sky Harbour Group Trading Down 4.0%

Shares of SKYH traded down $0.43 during mid-day trading on Friday, reaching $10.27. The company's stock had a trading volume of 91,862 shares, compared to its average volume of 137,055. The stock has a market cap of $776.51 million, a PE ratio of -4.96 and a beta of 1.74. Sky Harbour Group Co. has a 52 week low of $9.28 and a 52 week high of $14.52. The company's fifty day moving average price is $10.05 and its two-hundred day moving average price is $10.83.

Analyst Upgrades and Downgrades

SKYH has been the topic of a number of recent research reports. Alliance Global Partners initiated coverage on shares of Sky Harbour Group in a research note on Friday, April 25th. They issued a "buy" rating and a $14.50 price objective on the stock. Lake Street Capital initiated coverage on shares of Sky Harbour Group in a report on Monday, June 9th. They issued a "buy" rating and a $14.00 target price for the company. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $17.38.

Sky Harbour Group Profile

Sky Harbour Group Corporation operates as an aviation infrastructure development company in the United States. It develops, leases, and manages general aviation hangars for business aircraft. The company is based in White Plains, New York.