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Boston Omaha Corporation, a significant shareholder in Sky Harbour Group Corp (NYSE:SKYH), reported the sale of Class A common stock valued at approximately $451,595. The transactions occurred over three days in late April 2025. Sky Harbour, currently valued at $855 million, has shown remarkable revenue growth of nearly 95% over the last twelve months, though InvestingPro analysis suggests the stock is trading slightly above its Fair Value.
On April 24, Boston Omaha sold 12,084 shares at an average price of $11.1016 per share. The following day, they sold an additional 15,383 shares at an average price of $10.9495. The final transaction on April 28 involved the sale of 13,691 shares at an average price of $10.8836. The prices for these transactions ranged between $10.80 and $11.25 per share. According to InvestingPro data, SKYH has demonstrated significant price volatility, with 8 additional key insights available to subscribers.
Following these sales, Boston Omaha holds 9,171,213 shares directly, while its subsidiary, United Casualty & Surety Insurance Company, retains ownership of 2,673,831 shares in Sky Harbour Group.
In other recent news, Sky Harbor Group has reported a substantial increase in revenue for the fourth quarter of 2024, with figures doubling year-over-year and showing a 13% sequential rise from the third quarter. The company’s strategic expansions include the acquisition of the Camarillo Airport campus, underscoring its robust liquidity position with $127 million in cash and U.S. Treasury bills. Alliance Global Partners (NYSE:GLP) has initiated coverage on Sky Harbor with a Buy rating and a price target of $14.50, citing the company’s growth potential through the development of hangar campuses and favorable market dynamics for hangar space. The analysts highlighted the company’s strong operating performance, marked by an increase in rental rates, as a positive indicator for future revenue and profitability.
Sky Harbor’s forward-looking strategies include plans to acquire 6-10 new airports by 2026, aiming for 50+ campuses over the next 3-5 years. The company has also set a target to reach cash flow breakeven by the end of 2024. Despite these positive developments, the absence of specific earnings results has left some investors cautious. The company’s unique market position was emphasized by CEO Tal Canan, who stated their ambition for quality and leadership in business aviation infrastructure. The demand for hangar space and the company’s access to capital are expected to support its growth and expansion plans.
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