Mesa Air Group (NASDAQ:RJET) Shares Down 0.1% – Here’s What Happened

Mesa Air Group, Inc. (NASDAQ:RJET)’s share price dropped 0.1% on Thursday . The stock traded as low as $17.17 and last traded at $17.97. Approximately 81,081 shares were traded during trading, an increase of 56% from the average daily volume of 52,095 shares. The stock had previously closed at $17.99.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Mesa Air Group to a “hold” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Mesa Air Group currently has an average rating of “Sell”.

Mesa Air Group Trading Down 0.1%

The firm has a market cap of $501.83 million, a price-to-earnings ratio of -2.97 and a beta of 1.72. The company has a fifty day moving average price of $18.84 and a 200-day moving average price of $19.44.

Hedge Funds Weigh In On Mesa Air Group

Several large investors have recently made changes to their positions in RJET. Par Capital Management Inc. purchased a new position in Mesa Air Group during the second quarter valued at $2,091,000. Orvieto Partners L.P. acquired a new position in shares of Mesa Air Group during the 2nd quarter worth about $444,000. Pinnacle Holdings LLC lifted its stake in Mesa Air Group by 31.8% in 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 in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Mesa Air Group in the 3rd quarter worth about $56,000. 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.