Sky Harbour Group Co. $SKYH Shares Bought by Penbrook Management LLC

Penbrook Management LLC boosted its stake in shares of Sky Harbour Group Co. (NYSE:SKYH) by 909.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 197,200 shares of the company’s stock after purchasing an additional 177,670 shares during the period. Sky Harbour Group makes up approximately 1.1% of Penbrook Management LLC’s portfolio, making the stock its 22nd biggest holding. Penbrook Management LLC’s holdings in Sky Harbour Group were worth $1,867,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Sky Harbour Group by 497.0% in the 3rd quarter. GAMMA Investing LLC now owns 3,379 shares of the company’s stock valued at $32,000 after buying an additional 2,813 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Sky Harbour Group in the second quarter worth about $472,000. Yorkville Advisors Global LP boosted its stake in shares of 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 buying an additional 40,000 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Sky Harbour Group by 81.7% during the second quarter. Squarepoint Ops LLC now owns 100,888 shares of the company’s stock worth $993,000 after acquiring an additional 45,349 shares during the period. Finally, RMR Capital Management LLC acquired a new stake in Sky Harbour Group during the first quarter worth about $1,170,000. Hedge funds and other institutional investors own 14.75% of the company’s stock.

Sky Harbour Group Stock Performance

SKYH stock opened at $9.10 on Friday. The firm has a market cap of $697.32 million, a PE ratio of -50.56 and a beta of 1.35. The firm’s fifty day moving average is $10.11 and its 200 day moving average is $9.99. 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) last released 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 company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $9.44 million. Sky Harbour Group had a net margin of 2.73% and a return on equity of 6.45%. Research analysts predict that Sky Harbour Group Co. will post -0.52 earnings per share for the current fiscal year.

Insider Transactions at Sky Harbour Group

In other Sky Harbour Group news, CFO Francisco Gonzalez bought 3,850 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 718,538 shares of the company’s stock, valued at approximately $6,646,476.50. The trade was a 0.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Andrew Gessow purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $10.85 per share, with a total value of $54,250.00. Following the purchase, the director owned 22,910 shares in the company, valued at $248,573.50. This represents a 27.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 13,950 shares of company stock worth $139,568 over the last 90 days. Insiders own 40.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SKYH shares. Roth Capital reiterated a “buy” rating and set a $12.50 price target on shares of Sky Harbour Group in a research report on Tuesday, August 18th. 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 restated a “buy” rating and issued a $13.00 price objective on shares of Sky Harbour Group in a research report on Monday, September 14th. Finally, Weiss Ratings raised shares of Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Sky Harbour Group currently has an average rating of “Buy” and a consensus target price of $12.75.

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.