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Sky Harbour Group Corp (NASDAQ:SKYH) recently witnessed significant stock sales by Boston Omaha Corp, a major stakeholder. Over a three-day period from April 15 to April 17, Boston Omaha sold a total of 40,346 shares of Sky Harbour’s Class A common stock. These transactions were executed at prices ranging from $11.0812 to $11.448 per share, resulting in a total value of approximately $453,445. According to InvestingPro data, SKYH’s current market capitalization stands at $383.3 million, with analysts setting price targets between $13.50 and $25.00 per share.
Following these sales, Boston Omaha retains a direct ownership of 9,265,631 shares in Sky Harbour. Additionally, United Casualty & Surety Insurance Company, a wholly-owned subsidiary of Boston Omaha, holds another 2,673,831 shares. These transactions reflect Boston Omaha’s strategic portfolio adjustments within the Sky Harbour Group.
In other recent news, Sky Harbour Group Corp reported notable revenue growth during their fourth quarter of 2024. The company’s revenues doubled year-over-year, with a 13% increase from the previous quarter, highlighting their strategic expansions and robust liquidity with $127 million in cash and U.S. Treasury bills. Despite these positive developments, specific earnings results were not provided, which may have contributed to cautious investor sentiment. Sky Harbour’s strategic expansions include the acquisition of the Camarillo Airport campus, aligning with their forward-looking strategies for potential new airport acquisitions and partnerships. The company plans to target over 50 campuses in the next 3-5 years and expects 6-10 new airport acquisitions by 2026. Analyst feedback was not mentioned, but the company’s financial performance and strategic plans are crucial for investors. These developments reflect Sky Harbour’s commitment to expanding its business aviation infrastructure and maintaining a competitive edge in the market.
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