Sky Harbour Group (NYSEAMERICAN:SKYH) Trading Down 5.4% – Time to Sell?

Sky Harbour Group Co. (NYSEAMERICAN:SKYH) shares dropped 5.4% during trading on Monday . The company traded as low as $11.50 and last traded at $11.61. Approximately 51,565 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 56,111 shares. The stock had previously closed at $12.27.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SKYH. Northland Capmk upgraded shares of Sky Harbour Group to a “strong-buy” rating in a research note on Tuesday, September 24th. Northland Securities assumed coverage on Sky Harbour Group in a research note on Tuesday, September 24th. They set an “outperform” rating and a $16.00 target price on the stock. Finally, Maxim Group boosted their price target on Sky Harbour Group from $17.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday.

Sky Harbour Group Price Performance

The firm has a market cap of $746.71 million, a PE ratio of -5.47 and a beta of 1.84.

Insiders Place Their Bets

In other news, Director Alexander Buffett Rozek bought 52,632 shares of the stock in a transaction on Thursday, October 24th. The stock was bought at an average cost of $9.50 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the director now directly owns 52,632 shares in the company, valued at approximately $500,004. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 45.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SKYH. Barclays PLC raised its position in Sky Harbour Group by 326.5% during the third quarter. Barclays PLC now owns 16,315 shares of the company’s stock valued at $181,000 after acquiring an additional 12,490 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Sky Harbour Group by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 251,465 shares of the company’s stock valued at $2,777,000 after purchasing an additional 6,887 shares in the last quarter. State Street Corp boosted its holdings in Sky Harbour Group by 1.1% during the third quarter. State Street Corp now owns 125,483 shares of the company’s stock worth $1,385,000 after buying an additional 1,406 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Sky Harbour Group during the third quarter valued at $79,000. Finally, Meixler Investment Management Ltd. increased its holdings in Sky Harbour Group by 82.5% in the third quarter. Meixler Investment Management Ltd. now owns 98,646 shares of the company’s stock valued at $1,089,000 after buying an additional 44,596 shares in the last quarter. 14.75% of the stock is currently owned by hedge funds and other institutional investors.

About Sky Harbour Group

Sky Harbour Group Corporation operates as an aviation infrastructure development company in the United States. It develops, leases, and manages general aviation hangars for business aircraft. The company is based in White Plains, New York.