Mesa Air Group (NASDAQ:RJET) Shares Up 8.6% – Here’s Why

Mesa Air Group, Inc. (NASDAQ:RJET) rose 8.6% on Monday . The stock traded as high as $18.34 and last traded at $18.32. Approximately 13,664 shares traded hands during trading, a decline of 83% from the average daily volume of 80,720 shares. The stock had previously closed at $16.87.

Analyst Ratings Changes

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

Mesa Air Group Trading Up 5.2%

The stock has a market cap of $495.76 million, a P/E ratio of -10.03 and a beta of 1.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 0.94. The stock’s fifty day moving average is $18.92 and its 200 day moving average is $19.96.

Mesa Air Group (NASDAQ:RJET) last issued its quarterly earnings data on Wednesday, March 4th. The company reported $0.54 earnings per share for the quarter. Mesa Air Group had a positive return on equity of 4.28% and a negative net margin of 6.32%.The company had revenue of $464.10 million for the quarter.

Institutional Trading of Mesa Air Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in Mesa Air Group in the third quarter worth $56,000. Geode Capital Management LLC bought a new position in Mesa Air Group during the fourth quarter valued at $442,000. Orvieto Partners L.P. bought a new position in Mesa Air Group during the second quarter valued at $444,000. Par Capital Management Inc. purchased a new stake in shares of Mesa Air Group in the second quarter valued at $2,091,000. Finally, Pinnacle Holdings LLC raised its stake 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. Hedge funds and other 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.