Sky Harbour Group (NYSE:SKYH) Director Buys $54,250.00 in Stock

Key Points

• Director Andrew Gessow purchased 5,000 Sky Harbour shares at $10.85 each, investing $54,250 and increasing his direct stake by 27.92% to 22,910 shares.
• Shares fell 0.9% to $10.19, while the company reported an adjusted quarterly loss of $0.04 per share—better than the expected $0.14 loss—but revenue of approximately $10,000 was far below the $9.44 million consensus estimate.
• Analysts maintain a consensus “Buy” rating with an average price target of $12.75; institutional investors own 14.75% of the company.

Sky Harbour Group Co. (NYSE:SKYH - Get Free Report) Director Andrew Gessow acquired 5,000 shares of the firm's stock in a transaction on Friday, August 14th. The stock was purchased at an average price of $10.85 per share, for a total transaction of $54,250.00. Following the transaction, the director directly owned 22,910 shares of the company's stock, valued at approximately $248,573.50. This trade represents a 27.92% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Sky Harbour Group Stock Down 0.9%

Shares of NYSE:SKYH traded down $0.10 during midday trading on Tuesday, hitting $10.19. 83,480 shares of the stock traded hands, compared to its average volume of 152,423. The business's 50 day moving average is $10.12 and its two-hundred day moving average is $9.73. The stock has a market capitalization of $779.46 million, a PE ratio of -56.51 and a beta of 1.31. Sky Harbour Group Co. has a one year low of $8.22 and a one year high of $11.70.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. Sky Harbour Group had a return on equity of 6.45% and a net margin of 2.73%.The company had revenue of $0.01 million for the quarter, compared to analysts' expectations of $9.44 million. As a group, sell-side analysts forecast that Sky Harbour Group Co. will post -0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Sky Harbour Group

Several large investors have recently bought and sold shares of the company. RMR Capital Management LLC purchased a new position in shares of Sky Harbour Group in the 1st quarter valued at approximately $1,170,000. Geode Capital Management LLC boosted its position in shares of Sky Harbour Group by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 512,506 shares of the company's stock valued at $4,598,000 after purchasing an additional 14,194 shares in the last quarter. Bank of America Corp DE grew its stake in Sky Harbour Group by 173.7% in 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. Vanguard Group Inc. grew its stake in Sky Harbour Group by 1.3% in the third quarter. Vanguard Group Inc. now owns 1,175,780 shares of the company's stock worth $11,605,000 after purchasing an additional 15,250 shares during the period. Finally, State Street Corp raised its holdings in Sky Harbour Group by 2.5% in the fourth quarter. State Street Corp now owns 581,050 shares of the company's stock worth $5,212,000 after purchasing an additional 14,035 shares in the last quarter. 14.75% of the stock is owned by institutional investors.

About Sky Harbour Group

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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