Insider Buying: Sky Harbour Group (NYSE:SKYH) CFO Acquires 1,600 Shares of Company Stock

Key Points

• Sky Harbour Group CFO Francisco Gonzalez bought 1,600 shares at an average price of $9.40, investing $15,040 and increasing his holdings to 714,688 shares. He has also made three additional purchases since August.
• Shares recently traded at $9.38, near the lower end of their 52-week range of $8.22 to $11.70. The company reported quarterly EPS of -$0.04, better than the -$0.14 consensus estimate, but revenue significantly missed expectations.
• Analyst sentiment remains mixed: the average rating is “Buy” with a $12.75 price target, while some firms recently downgraded the stock to “Sell.” Institutional investors and hedge funds own 14.75% of the company.

Sky Harbour Group Co. (NYSE:SKYH - Get Free Report) CFO Francisco Gonzalez purchased 1,600 shares of the stock in a transaction on Thursday, October 1st. The stock was acquired at an average cost of $9.40 per share, with a total value of $15,040.00. Following the acquisition, the chief financial officer owned 714,688 shares of the company's stock, valued at approximately $6,718,067.20. This represents a 0.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Francisco Gonzalez also recently made the following trade(s):

• On Wednesday, September 30th, Francisco Gonzalez acquired 1,500 shares of Sky Harbour Group stock. The shares were bought at an average price of $9.69 per share, for a total transaction of $14,535.00.
• On Friday, September 11th, Francisco Gonzalez bought 1,000 shares of Sky Harbour Group stock. The stock was bought at an average price of $10.08 per share, with a total value of $10,080.00.
• On Tuesday, August 18th, Francisco Gonzalez bought 1,000 shares of Sky Harbour Group stock. The shares were bought at an average cost of $10.05 per share, for a total transaction of $10,050.00.

Sky Harbour Group Price Performance

Sky Harbour Group stock traded down $0.09 during mid-day trading on Friday, reaching $9.38. 35,238 shares of the company traded hands, compared to its average volume of 154,342. The firm's fifty day moving average is $10.41 and its two-hundred day moving average is $10.01. The company has a market capitalization of $718.74 million, a price-to-earnings ratio of -52.53 and a beta of 1.31. Sky Harbour Group Co. has a fifty-two week low of $8.22 and a fifty-two week high of $11.70.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Weiss Ratings lowered Sky Harbour Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, September 21st. Wall Street Zen upgraded Sky Harbour Group from a "strong sell" rating to a "sell" rating in a research report on Sunday, September 20th. BTIG Research reissued a "buy" rating and issued a $13.00 price target on shares of Sky Harbour Group in a research note on Monday, September 14th. Finally, Roth Capital restated a "buy" rating and issued a $12.50 target price on shares of Sky Harbour Group in a research report on Tuesday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $12.75.

Hedge Funds Weigh In On Sky Harbour Group

Several institutional investors have recently bought and sold shares of SKYH. Altai Capital Management L.P. acquired a new stake in Sky Harbour Group in the 2nd quarter valued at about $7,039,000. Bank of America Corp DE increased its holdings 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 buying an additional 6,545 shares during the last quarter. RMR Capital Management LLC purchased a new stake in Sky Harbour Group during the 1st quarter worth about $1,170,000. Squarepoint Ops LLC increased its holdings in shares of Sky Harbour Group by 81.7% in the 2nd quarter. Squarepoint Ops LLC now owns 100,888 shares of the company's stock valued at $993,000 after acquiring an additional 45,349 shares during the last quarter. Finally, Yorkville Advisors Global LP increased its stake 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 purchasing an additional 40,000 shares during the last quarter. 14.75% of the stock is owned by institutional investors and hedge funds.

About Sky Harbour Group

Sky Harbour Group Corporation NYSE: SKYH develops, owns and operates aviation infrastructure for business and private aviation. The company focuses on purpose-built “Hangar Campuses” that provide aircraft owners and operators with secure, high-quality facilities for storing and managing private aircraft.

Its campuses are designed to offer more than aircraft storage, incorporating amenities such as private hangars, pilot and passenger facilities, office space, and other services intended to support business aviation activity.

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