Boston Omaha Corporation, a significant shareholder of Sky Harbor Group Corp (NASDAQ:SKYH), recently sold part of its stake in the company. According to the most recent filing, Boston Omaha sold a total of 39,053 shares through three transactions between December 27 and December 31, 2024. The sales took place at prices ranging from $12.0559 to $12.207 per share, amounting to a total value of $473,238. . Time is significant as InvestingPro data shows that SKYH experienced a 7.6% decline in the past week, although it maintained a strong growth of 29% over the six months.
Following these transactions, Boston Omaha continues to directly hold 10,889,758 shares. In addition, United Casualty & Surety Insurance Company, a wholly owned subsidiary of Boston Omaha, retains ownership of 1,511,831 shares of Sky Harbor’s Class A common stock.
In other recent news, Sky Harbor Capital reported strong revenue growth in its latest earnings call, driven by the launch of its San Jose campus and high occupancy rates at existing facilities. The company is expanding its airport portfolio and anticipates raising additional funds through a second PIPE closing. Sky Harbor is also working to achieve an investment grade rating for its bonds.
The company’s financial position remains strong, with $110 million in cash and government bonds as of Sept. 30. The planned investment in PIPE is expected to contribute an additional $37.6 million. Among other things, Sky Harbor completed the Sky Harbor 37 prototype and appointed Marty Kretchman as Senior Vice President of Airports.
Sky Harbor’s strategy now includes semi-private hangars, which have increased occupancy and revenue. The company plans to expand its portfolio to 23 airports by the end of 2025 and expects to begin paying interest on the bonds in 2025. However, the company is facing increased construction costs due to post-Covid inflation, especially for OPF’s Phase 2 project in Miami. Despite these challenges, Sky Harbor remains focused on enhancing the resident experience for aircraft owners and other aviation professionals.
This article was generated with the support of artificial intelligence and reviewed by an editor. See our T&C for more information.
