Mesa Air Group (NASDAQ:RJET) Trading Down 0.1% – Time to Sell?
by Amy Steele · The Cerbat GemShares of Mesa Air Group, Inc. (NASDAQ:RJET – Get Free Report) were down 0.1% during mid-day trading on Thursday . The company traded as low as $17.17 and last traded at $17.97. Approximately 81,081 shares changed hands during mid-day trading, an increase of 56% from the average daily volume of 52,095 shares. The stock had previously closed at $17.99.
Analyst Ratings Changes
Separately, Wall Street Zen upgraded Mesa Air Group to a “hold” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Mesa Air Group has an average rating of “Sell”.
Read Our Latest Research Report on Mesa Air Group
Mesa Air Group Price Performance
The firm has a fifty day moving average of $18.83 and a 200 day moving average of $19.46. The stock has a market capitalization of $553.29 million, a price-to-earnings ratio of -3.28 and a beta of 1.72.
Hedge Funds Weigh In On Mesa Air Group
Large investors have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in Mesa Air Group during the third quarter worth $56,000. Orvieto Partners L.P. acquired a new position in shares of Mesa Air Group in the second quarter worth about $444,000. Par Capital Management Inc. purchased a new stake in shares of Mesa Air Group during the 2nd quarter worth about $2,091,000. Finally, Pinnacle Holdings LLC grew its position in shares of Mesa Air Group by 31.8% during the 3rd quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock valued at $2,117,000 after acquiring an additional 392,878 shares during the period. 13.34% of the stock is currently owned by institutional investors and hedge funds.
About Mesa Air Group
Mesa Air Group, Inc is a regional airline holding company headquartered in Phoenix, Arizona. The company provides feeder air transportation services under capacity purchase agreements with major carriers in the United States, operating as an affiliate of American Airlines and United Airlines. Mesa Air Group’s operations are conducted through two wholly owned subsidiaries, Mesa Airlines and Mokulele Airlines, which serve domestic markets on a scheduled basis.
Mesa Airlines is the company’s primary regional carrier.