Sky Harbour Group (NYSE:SKYH) Director Andrew Gessow Purchases 5,000 Shares

Sky Harbour Group Co. (NYSE:SKYH) Director Andrew Gessow purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $8.95 per share, for a total transaction of $44,750.00. Following the completion of the purchase, the director directly owned 17,910 shares of the company’s stock, valued at approximately $160,294.50. This trade represents a 38.73% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Sky Harbour Group Stock Performance

SKYH stock opened at $8.91 on Friday. The company’s 50 day moving average price is $9.90 and its 200 day moving average price is $9.43. Sky Harbour Group Co. has a fifty-two week low of $8.22 and a fifty-two week high of $11.28. The firm has a market capitalization of $678.75 million, a price-to-earnings ratio of 222.80 and a beta of 1.39.

Sky Harbour Group (NYSE:SKYH) last released its earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Sky Harbour Group had a return on equity of 6.83% and a net margin of 63.95%.The firm had revenue of $8.73 million for the quarter, compared to analysts’ expectations of $9.96 million. Equities analysts forecast that Sky Harbour Group Co. will post -0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SKYH has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Sky Harbour Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 15th. BTIG Research restated a “buy” rating and set a $13.00 target price on shares of Sky Harbour Group in a research note on Tuesday, March 24th. Finally, Noble Financial upgraded shares of Sky Harbour Group to a “strong-buy” rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Hedge Funds Weigh In On Sky Harbour Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings 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 valued at $11,605,000 after purchasing an additional 15,250 shares in the last quarter. Bank of America Corp DE boosted its holdings 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 valued at $6,863,000 after purchasing an additional 445,828 shares in the last quarter. State Street Corp boosted 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 valued at $5,212,000 after purchasing an additional 14,035 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sky Harbour Group by 2.8% in 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. Finally, First Manhattan CO. LLC. acquired a new position in Sky Harbour Group in the fourth quarter valued at approximately $1,203,000. 14.75% of the stock is owned by institutional investors and hedge funds.

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.