Insider Selling: Sky Harbour Group (NYSE:SKYH) Major Shareholder Sells 331,500 Shares of Stock
by Danessa Lincoln · The Markets DailySky Harbour Group (NYSE:SKYH – Get Free Report) major shareholder Omaha Corp Boston sold 331,500 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $9.05, for a total value of $3,000,075.00. Following the sale, the insider owned 8,666,163 shares in the company, valued at approximately $78,428,775.15. This trade represents a 3.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Sky Harbour Group Price Performance
NYSE SKYH traded up $0.20 during trading hours on Wednesday, hitting $10.20. 158,734 shares of the company were exchanged, compared to its average volume of 132,661. Sky Harbour Group has a 52-week low of $8.22 and a 52-week high of $12.67. The company has a market cap of $776.84 million, a price-to-earnings ratio of 1,020.00 and a beta of 1.41.
Sky Harbour Group (NYSE:SKYH – Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.40. Sky Harbour Group had a return on equity of 8.03% and a net margin of 68.33%.The company had revenue of $8.06 million for the quarter, compared to the consensus estimate of $9.27 million.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on SKYH shares. Weiss Ratings started coverage on Sky Harbour Group in a report on Monday, March 23rd. They set a “sell (d+)” rating on the stock. BTIG Research restated a “buy” rating and set a $13.00 price target on shares of Sky Harbour Group in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.00.
Sky Harbour Group Company Profile
Sky Harbour Group (NYSE: SKYH) is a publicly traded company focused on the ownership, development and operation of aviation real estate and infrastructure, with particular emphasis on hangars and support facilities for business and general aviation. The company acquires, constructs and leases premium aircraft storage and maintenance space intended to serve owners and operators of business jets and other corporate aircraft, and it pursues opportunities to consolidate scarce hangar capacity at key airports.
Its principal activities include development and redevelopment of hangar buildings, long‑term leasing and management of aviation properties, and partnering with fixed‑base operators and maintenance providers to deliver services that support aircraft operations.