Sky Harbour Group (NYSE:SKYH) Stock: Insider Francisco Gonzalez Buys 3,850 Shares

Key Points

• CFO Francisco Gonzalez bought 3,850 Sky Harbour Group shares at an average price of $9.25, investing $35,612.50. The purchase increased his holdings to 718,538 shares, and follows several earlier purchases since August.
• Sky Harbour shares fell 0.8% to $9.21, with the stock trading below its 50-day and 200-day moving averages. The company reported quarterly EPS of $(0.04), ahead of the $(0.14) consensus estimate, but revenue was only $0.01 million versus a $9.44 million forecast.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a $12.75 price target, although some firms recently downgraded the stock to “Sell.” Institutional investors own 14.75% of Sky Harbour’s shares.

Sky Harbour Group Co. (NYSE:SKYH - Get Free Report) CFO Francisco Gonzalez purchased 3,850 shares of Sky Harbour Group stock in a transaction on Friday, October 2nd. The stock was bought at an average price of $9.25 per share, with a total value of $35,612.50. Following the transaction, the chief financial officer owned 718,538 shares of the company's stock, valued at approximately $6,646,476.50. This represents a 0.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, October 1st, Francisco Gonzalez acquired 1,600 shares of Sky Harbour Group stock. The stock was bought at an average cost of $9.40 per share, for a total transaction of $15,040.00.
• On Wednesday, September 30th, Francisco Gonzalez acquired 1,500 shares of Sky Harbour Group stock. The shares were bought at an average cost of $9.69 per share, for a total transaction of $14,535.00.
• On Friday, September 11th, Francisco Gonzalez acquired 1,000 shares of Sky Harbour Group stock. The shares were 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 stock was purchased at an average cost of $10.05 per share, with a total value of $10,050.00.

Sky Harbour Group Trading Down 0.8%

NYSE SKYH traded down $0.07 on Monday, reaching $9.21. 20,888 shares of the stock were exchanged, compared to its average volume of 154,803. Sky Harbour Group Co. has a one year low of $8.22 and a one year high of $11.70. The firm has a market capitalization of $706.03 million, a PE ratio of -51.23 and a beta of 1.35. The company's 50-day simple moving average is $10.39 and its two-hundred day simple moving average is $10.01.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.10. The business had revenue of $0.01 million during 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%. Sell-side analysts forecast that Sky Harbour Group Co. will post -0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKYH has been the topic of a number of recent analyst reports. Weiss Ratings cut Sky Harbour Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, September 21st. Roth Capital reaffirmed a "buy" rating and set a $12.50 price objective on shares of Sky Harbour Group in a report on Tuesday, August 18th. BTIG Research reissued a "buy" rating and issued a $13.00 target price on shares of Sky Harbour Group in a report on Monday, September 14th. Finally, Wall Street Zen upgraded shares of Sky Harbour Group from a "strong sell" rating to a "sell" rating in a research note on Sunday, September 20th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Sky Harbour Group has an average rating of "Buy" and an average price target of $12.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Altai Capital Management L.P. bought a new stake in shares of Sky Harbour Group in the 2nd quarter worth about $7,039,000. Bank of America Corp DE grew its holdings in Sky Harbour Group by 1.8% during the 1st quarter. Bank of America Corp DE now owns 374,021 shares of the company's stock valued at $3,602,000 after purchasing an additional 6,545 shares during the last quarter. RMR Capital Management LLC purchased a new stake in Sky Harbour Group in the 1st quarter worth about $1,170,000. Squarepoint Ops LLC raised its position in Sky Harbour Group by 81.7% in the 2nd quarter. Squarepoint Ops LLC now owns 100,888 shares of the company's stock worth $993,000 after purchasing an additional 45,349 shares during the period. Finally, Yorkville Advisors Global LP lifted 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 worth $867,000 after purchasing an additional 40,000 shares during the last quarter. 14.75% of the stock is owned by hedge funds and other institutional investors.

Sky Harbour Group Company Profile

Sky Harbour Group Corporation develops and operates aviation infrastructure for business and general aviation. The company focuses on building and managing private hangar campuses designed to provide secure aircraft storage and related facilities for business aircraft owners and operators.

Its campuses typically offer dedicated aircraft hangars, office and support space, and other aviation-oriented amenities. Sky Harbour's business model is centered on developing properties at strategically located airports and leasing or providing access to the facilities for private aviation customers.

The company is building a network of aviation campuses across the United States, with a focus on serving major metropolitan areas and regional business aviation markets.

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