RMR Capital Management LLC Takes Position in Sky Harbour Group Co. $SKYH

RMR Capital Management LLC acquired a new position in shares of Sky Harbour Group Co. (NYSE:SKYH) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 121,468 shares of the company’s stock, valued at approximately $1,170,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SKYH. Vanguard Group Inc. grew its holdings in shares of Sky Harbour Group by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,175,780 shares of the company’s stock valued at $11,605,000 after acquiring an additional 15,250 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of 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 worth $6,863,000 after buying an additional 445,828 shares during the last quarter. State Street Corp lifted its position in Sky Harbour Group by 2.5% during the 4th quarter. State Street Corp now owns 581,050 shares of the company’s stock worth $5,212,000 after acquiring an additional 14,035 shares during the last quarter. Geode Capital Management LLC grew its holdings in Sky Harbour Group by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 512,506 shares of the company’s stock valued at $4,598,000 after buying an additional 14,194 shares during the last quarter. Finally, First Manhattan CO. LLC. bought a new position in Sky Harbour Group during the fourth quarter worth $1,203,000. 14.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKYH has been the subject of a number of research reports. Noble Financial upgraded Sky Harbour Group to a “strong-buy” rating in a research report on Monday, May 18th. Weiss Ratings raised shares of Sky Harbour Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, July 6th. Finally, Roth Capital began coverage on Sky Harbour Group in a report on Friday. They issued a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sky Harbour Group presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Insiders Place Their Bets

In other Sky Harbour Group news, Director Andrew J. Gessow bought 5,000 shares of Sky Harbour Group stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $8.95 per share, for a total transaction of $44,750.00. Following the completion of the acquisition, the director owned 17,910 shares in the company, valued at approximately $160,294.50. The trade was a 38.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 40.70% of the company’s stock.

Sky Harbour Group Stock Performance

Shares of Sky Harbour Group stock opened at $10.47 on Friday. Sky Harbour Group Co. has a 52 week low of $8.22 and a 52 week high of $11.17. The firm has a fifty day moving average of $9.70 and a two-hundred day moving average of $9.60. The stock has a market capitalization of $801.65 million, a price-to-earnings ratio of 261.88 and a beta of 1.32.

Sky Harbour Group (NYSE:SKYH) last issued its earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $8.72 million for the quarter, compared to the consensus estimate of $9.96 million. As a group, research analysts forecast that Sky Harbour Group Co. will post -0.54 EPS 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.