Sky Harbour Group’s (SKYH) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Sky Harbour Group (NYSE:SKYH) in a research report report published on Thursday,Benzinga reports. BTIG Research currently has a $13.00 price target on the stock.

A number of other equities analysts have also recently issued reports on SKYH. Wall Street Zen upgraded Sky Harbour Group from a “strong sell” rating to a “sell” rating in a report on Sunday, September 20th. Roth Capital restated a “buy” rating and set a $12.50 price target on shares of Sky Harbour Group in a research note on Tuesday, August 18th. Finally, Weiss Ratings upgraded shares of Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.75.

Sky Harbour Group Price Performance

Shares of Sky Harbour Group stock opened at $9.50 on Thursday. The business has a 50-day simple moving average of $9.92 and a 200 day simple moving average of $9.97. Sky Harbour Group has a one year low of $8.22 and a one year high of $11.70. The firm has a market capitalization of $727.97 million, a price-to-earnings ratio of -52.78 and a beta of 1.35.

Sky Harbour Group (NYSE:SKYH) last announced its quarterly 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 business had revenue of $0.01 million for the quarter, compared to analyst estimates of $9.44 million. On average, sell-side analysts expect that Sky Harbour Group will post -0.52 EPS for the current year.

Insiders Place Their Bets

In related news, Director Andrew J. Gessow acquired 5,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $10.85 per share, for a total transaction of $54,250.00. Following the purchase, the director owned 22,910 shares in the company, valued at approximately $248,573.50. The trade was a 27.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Francisco Gonzalez acquired 3,850 shares of the business’s stock in a transaction on Friday, October 2nd. The shares were purchased at an average cost of $9.25 per share, for a total transaction of $35,612.50. Following the completion of the acquisition, the chief financial officer directly owned 718,538 shares in the company, valued at approximately $6,646,476.50. The trade was a 0.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 13,950 shares of company stock valued at $139,568 over the last three months. 40.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SKYH. GAMMA Investing LLC grew its position in Sky Harbour Group by 497.0% in the 3rd quarter. GAMMA Investing LLC now owns 3,379 shares of the company’s stock worth $32,000 after purchasing an additional 2,813 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Sky Harbour Group in the 2nd quarter worth approximately $472,000. Yorkville Advisors Global LP boosted its stake in shares of Sky Harbour Group by 80.0% in the 1st quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company’s stock worth $867,000 after buying an additional 40,000 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of Sky Harbour Group by 81.7% in the second 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 in the last quarter. Finally, RMR Capital Management LLC bought a new position in shares of Sky Harbour Group in the first quarter valued at approximately $1,170,000. 14.75% of the stock is owned by institutional investors.

About Sky Harbour Group

Sky Harbour Group Corporation develops, owns and operates private aviation hangar campuses at airports in the United States. The company focuses on providing purpose-built infrastructure for business aircraft owners and operators, with facilities designed to support the storage, maintenance and operation of private aircraft.

Its airport campuses generally include individual or multi-aircraft hangars, along with amenities such as pilot and crew lounges, office space, parking and other aviation-related services.