Mesa Air Group (NASDAQ:RJET) Trading Up 10.8% – Should You Buy?

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) traded up 10.8% during trading on Wednesday . The stock traded as high as $19.88 and last traded at $19.88. 57,494 shares were traded during trading, a decline of 3% from the average session volume of 59,392 shares. The stock had previously closed at $17.94.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Mesa Air Group to a “hold” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Mesa Air Group Trading Up 11.3%

The stock’s 50-day moving average price is $18.79 and its 200-day moving average price is $19.57. The company has a market capitalization of $557.40 million, a P/E ratio of -3.30 and a beta of 1.72.

Hedge Funds Weigh In On Mesa Air Group

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC acquired a new stake in shares of Mesa Air Group during the 4th quarter worth approximately $442,000. GSA Capital Partners LLP bought a new position in Mesa Air Group during the 3rd quarter worth $56,000. Orvieto Partners L.P. acquired a new stake in Mesa Air Group in the second quarter worth $444,000. Pinnacle Holdings LLC lifted its stake in 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 buying an additional 392,878 shares during the last quarter. Finally, Par Capital Management Inc. acquired a new position in shares of Mesa Air Group during the second quarter valued at $2,091,000. 13.34% of the stock is owned by 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.