Insider Buying: Sky Harbour Group (NYSE:SKYH) CFO Purchases 1,000 Shares of Stock

Key Points

• Sky Harbour Group CFO Francisco Gonzalez bought 1,000 shares at an average price of $10.05, increasing his holdings by 0.14% to 710,588 shares valued at approximately $7.14 million.
• Sky Harbour shares rose 1.4% to $10.40, while the company’s latest quarterly loss of $0.04 per share beat analyst expectations of a $0.14 loss; however, revenue was just $10,000 versus the $9.44 million consensus estimate.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a $12.75 price target, while institutional investors own 14.75% of the company.

Sky Harbour Group Co. (NYSE:SKYH - Get Free Report) CFO Francisco Gonzalez acquired 1,000 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $10.05 per share, for a total transaction of $10,050.00. Following the acquisition, the chief financial officer owned 710,588 shares of the company's stock, valued at approximately $7,141,409.40. The trade was a 0.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Sky Harbour Group Trading Up 1.4%

Shares of Sky Harbour Group stock traded up $0.15 on Wednesday, hitting $10.40. The stock had a trading volume of 27,863 shares, compared to its average volume of 152,236. The stock has a market cap of $795.61 million, a price-to-earnings ratio of -57.81 and a beta of 1.31. Sky Harbour Group Co. has a 52-week low of $8.22 and a 52-week high of $11.70. The company's 50 day moving average price is $10.14 and its 200 day moving average price is $9.74.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.10. The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $9.44 million. Sky Harbour Group had a return on equity of 6.45% and a net margin of 2.73%. Analysts predict that Sky Harbour Group Co. will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Sky Harbour Group

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Sky Harbour Group by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,175,780 shares of the company's stock worth $11,605,000 after acquiring an additional 15,250 shares during the last quarter. Altai Capital Management L.P. purchased a new stake in shares of Sky Harbour Group in the second quarter worth approximately $7,039,000. Bank of America Corp DE boosted its holdings in shares of Sky Harbour Group by 173.7% during the second quarter. Bank of America Corp DE now owns 702,494 shares of the company's stock worth $6,863,000 after purchasing an additional 445,828 shares during the period. State Street Corp boosted its position in Sky Harbour Group by 2.5% during the fourth quarter. State Street Corp now owns 581,050 shares of the company's stock valued at $5,212,000 after purchasing an additional 14,035 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Sky Harbour Group by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 512,506 shares of the company's stock valued at $4,598,000 after buying an additional 14,194 shares during the last quarter. Institutional investors own 14.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Roth Capital reaffirmed a "buy" rating and issued a $12.50 target price on shares of Sky Harbour Group in a report on Tuesday. Noble Financial upgraded Sky Harbour Group to a "strong-buy" rating in a research note on Monday, May 18th. Finally, Weiss Ratings raised Sky Harbour Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $12.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source