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Boston Omaha Corp (NASDAQ:BOC) has sold a significant portion of its holdings in Sky Harbour Group Corp (NASDAQ:SKYH), according to a recent SEC filing. The transactions, which took place over three days, involved the sale of 53,747 shares of Sky Harbour’s Class A common stock, totaling approximately $611,464. Sky Harbour, currently trading at $11.69 and valued at $922 million, has shown significant revenue growth of 95% over the last twelve months, though InvestingPro analysis indicates the stock is trading above its Fair Value.
On April 10, 2025, Boston Omaha sold 24,151 shares at a weighted average price of $11.1505, with prices ranging from $10.80 to $11.46. The following day, an additional 12,768 shares were sold at an average price of $11.3899, within a price range of $11.19 to $11.63. The final transaction occurred on April 14, 2025, with 16,828 shares sold at an average price of $11.6914, with prices ranging from $11.50 to $11.88. According to InvestingPro data, SKYH maintains strong liquidity with a current ratio of 3.65, though the company faces profitability challenges with negative EBITDA of -$17.7 million.
Following these transactions, Boston Omaha retains ownership of 9,305,977 shares of Sky Harbour’s Class A common stock, while its wholly-owned subsidiary, United Casualty & Surety Insurance Company, holds an additional 2,673,831 shares.
In other recent news, Sky Harbour Group Corp reported significant revenue growth in the fourth quarter of 2024, with revenues doubling year-over-year and a 13% sequential increase from the third quarter. The company highlighted its strong liquidity position, with approximately $127 million in cash and U.S. Treasury bills, and discussed strategic expansions, including the acquisition of the Camarillo Airport campus. Despite these positive developments, the company’s stock experienced a 1.3% decline in after-hours trading, which may reflect cautious investor sentiment due to the absence of explicit earnings results. Sky Harbour is targeting the acquisition of 50+ campuses over the next three to five years and plans for 6-10 new airport acquisitions in 2026. The company anticipates reaching cash flow breakeven by the fourth quarter of 2024. Additionally, Sky Harbour’s CEO, Tal Canan, emphasized the company’s commitment to quality and its unique market position in business aviation infrastructure. The firm also reported that its assets under construction and completed projects have reached over $250 million. Finally, Sky Harbour is exploring new revenue streams beyond rent and fuel services, aiming to enhance its market position further.
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