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

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of 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, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Mesa Air Group Trading Down 0.1%

The stock has a market capitalization of $501.83 million, a PE ratio of -2.97 and a beta of 1.72. The stock’s fifty day simple moving average is $18.84 and its 200-day simple moving average is $19.44.

Institutional Investors Weigh In On Mesa Air Group

Institutional investors have recently added to or reduced their stakes in the company. Par Capital Management Inc. purchased a new stake in Mesa Air Group in the 2nd quarter valued at about $2,091,000. Pinnacle Holdings LLC increased its position in shares of Mesa Air Group by 31.8% during the third 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 last quarter. Orvieto Partners L.P. purchased a new stake in shares of Mesa Air Group during the second quarter valued at approximately $444,000. Finally, GSA Capital Partners LLP bought a new stake in Mesa Air Group during the third quarter worth $56,000. 13.34% of the stock is owned by institutional investors.

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.