Sky Harbour Group Co. (NYSE:SKYH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Sky Harbour Group Co. (NYSE:SKYH) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $13.50.

A number of equities research analysts have issued reports on SKYH shares. Weiss Ratings cut shares of Sky Harbour Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday. BTIG Research reissued a “buy” rating and set a $13.00 target price on shares of Sky Harbour Group in a report on Tuesday, March 24th. Finally, Noble Financial raised shares of Sky Harbour Group to a “strong-buy” rating in a report on Monday.

Sky Harbour Group Trading Down 4.4%

Sky Harbour Group stock opened at $8.97 on Wednesday. Sky Harbour Group has a 12 month low of $8.22 and a 12 month high of $11.94. The business’s 50 day simple moving average is $9.91 and its 200 day simple moving average is $9.45. The company has a market cap of $682.78 million, a price-to-earnings ratio of 224.13 and a beta of 1.39.

Sky Harbour Group (NYSE:SKYH) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Sky Harbour Group had a net margin of 63.95% and a return on equity of 6.83%. The firm had revenue of $8.73 million during the quarter, compared to analysts’ expectations of $9.96 million. As a group, equities research analysts forecast that Sky Harbour Group will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Sky Harbour Group

In other news, major shareholder Omaha Corp Boston sold 331,500 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $9.05, for a total value of $3,000,075.00. Following the transaction, the insider owned 8,666,163 shares of the company’s stock, valued at approximately $78,428,775.15. This represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 40.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in shares of Sky Harbour Group by 145.6% in the third quarter. BNP Paribas Financial Markets now owns 5,012 shares of the company’s stock worth $49,000 after purchasing an additional 2,971 shares during the period. International Assets Investment Management LLC bought a new position in shares of Sky Harbour Group in the fourth quarter worth $83,000. Quadrant Capital Group LLC bought a new position in shares of Sky Harbour Group in the third quarter worth $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Sky Harbour Group by 68.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company’s stock worth $114,000 after purchasing an additional 4,721 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Sky Harbour Group by 9.9% in the fourth quarter. Deutsche Bank AG now owns 15,007 shares of the company’s stock worth $135,000 after purchasing an additional 1,357 shares during the period. Institutional investors own 14.75% of the company’s stock.

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.