Mesa Air Group (NASDAQ:RJET) Stock Price Down 7.6% – Here’s Why

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) were 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 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 shares of Mesa Air Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Mesa Air Group Trading Down 13.1%

The company has a market cap of $952.99 million, a P/E ratio of 21.65 and a beta of 1.58. The business has a fifty day moving average price of $19.79 and a 200-day moving average price of $19.68. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.67.

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

Institutional Investors Weigh In On Mesa Air Group

Institutional investors have recently modified their holdings of the business. Pinnacle Holdings LLC boosted its position in shares of Mesa Air Group by 31.8% in 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 period. GSA Capital Partners LLP bought a new stake in shares of Mesa Air Group in the third quarter valued at about $56,000. Par Capital Management Inc. bought a new stake in shares of Mesa Air Group in the second quarter valued at about $2,091,000. Finally, Geode Capital Management LLC bought a new stake in shares of Mesa Air Group in the fourth quarter valued at approximately $442,000. Institutional investors own 13.34% of the company’s stock.

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.