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

Shares of Sky Harbour Group Co. (NYSE:SKYH) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $13.50.

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

Insider Activity

In other news, major shareholder Omaha Corp Boston sold 331,500 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $9.05, for a total transaction of $3,000,075.00. Following the completion of the sale, the insider directly owned 8,666,163 shares of the company’s stock, valued at $78,428,775.15. This trade represents a 3.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 40.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sky Harbour Group

Several large investors have recently made changes to their positions in SKYH. Geode Capital Management LLC increased its position in shares of Sky Harbour Group by 32.1% during the 2nd quarter. Geode Capital Management LLC now owns 465,415 shares of the company’s stock valued at $4,548,000 after purchasing an additional 112,994 shares during the last quarter. Rhumbline Advisers lifted its stake in Sky Harbour Group by 185.5% in the second quarter. Rhumbline Advisers now owns 33,409 shares of the company’s stock valued at $326,000 after purchasing an additional 21,708 shares during the last quarter. American Century Companies Inc. lifted its stake in Sky Harbour Group by 64.9% in the second quarter. American Century Companies Inc. now owns 34,123 shares of the company’s stock valued at $333,000 after purchasing an additional 13,434 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 valued at $114,000 after purchasing an additional 4,721 shares during the last quarter. Finally, Bank of America Corp DE lifted 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 valued at $6,863,000 after purchasing an additional 445,828 shares during the last quarter. 14.75% of the stock is owned by hedge funds and other institutional investors.

Sky Harbour Group Stock Performance

SKYH stock opened at $8.97 on Wednesday. The company has a market capitalization of $682.78 million, a P/E ratio of 224.13 and a beta of 1.39. Sky Harbour Group has a 52-week low of $8.22 and a 52-week high of $11.94. The business has a 50-day simple moving average of $9.91 and a two-hundred day simple moving average of $9.45.

Sky Harbour Group (NYSE:SKYH) last posted its earnings results 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 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 the consensus estimate of $9.96 million. As a group, sell-side analysts forecast that Sky Harbour Group will post -0.66 earnings per share for the current fiscal year.

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.