Mesa Air Group (NASDAQ:RJET) Shares Down 7.6% – What’s Next?

Mesa Air Group, Inc. (NASDAQ:RJET)’s share price was down 7.6% during trading on Friday . The company traded as low as $21.59 and last traded at $21.64. Approximately 67,473 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 126,804 shares. The stock had previously closed at $23.43.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Mesa Air Group from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Mesa Air Group Trading Down 6.5%

The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $19.72 and a 200 day simple moving average of $19.68. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 23.30 and a beta of 1.58.

Mesa Air Group (NASDAQ:RJET) last released its earnings results on Wednesday, April 29th. The company reported $0.73 EPS for the quarter. Mesa Air Group had a return on equity of 6.13% and a net margin of 3.29%.The company had revenue of $527.40 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RJET. Par Capital Management Inc. purchased a new position in shares of Mesa Air Group in the second quarter valued at $2,091,000. GSA Capital Partners LLP purchased a new position in shares of Mesa Air Group in the third quarter valued at $56,000. Pinnacle Holdings LLC grew its holdings in 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 buying an additional 392,878 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new stake in Mesa Air Group during the 4th quarter valued at $442,000. Hedge funds and other institutional investors own 13.34% of the company’s stock.

Mesa Air Group Company Profile

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.