Mesa Air Group (NASDAQ:RJET) Sees Strong Trading Volume – Here’s What Happened

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) saw unusually-strong trading volume on Tuesday . Approximately 95,728 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 116,787 shares.The stock last traded at $25.40 and had previously closed at $23.57.

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 report on Wednesday, May 20th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Mesa Air Group Price Performance

The company has a market cap of $1.16 billion, a PE ratio of 26.35 and a beta of 1.58. 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 firm has a 50 day simple moving average of $19.31 and a 200-day simple moving average of $19.62.

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

Hedge Funds Weigh In On Mesa Air Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new position in shares of Mesa Air Group during the fourth quarter worth $442,000. GSA Capital Partners LLP acquired a new position in Mesa Air Group during the 3rd quarter valued at approximately $56,000. Pinnacle Holdings LLC raised its holdings 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 worth $2,117,000 after buying an additional 392,878 shares during the last quarter. Finally, Par Capital Management Inc. acquired a new stake in shares of Mesa Air Group during the second quarter worth $2,091,000. 13.34% of the stock is owned by hedge funds and other institutional investors.

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.