Mesa Air Group (NASDAQ:RJET) Trading Up 10.3% – Time to Buy?

Mesa Air Group, Inc. (NASDAQ:RJET) shares rose 10.3% on Wednesday . The stock traded as high as $21.24 and last traded at $20.80. Approximately 111,979 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 115,173 shares. The stock had previously closed at $18.86.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Mesa Air Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Mesa Air Group Trading Up 9.1%

The stock has a market capitalization of $963.29 million, a P/E ratio of 21.88 and a beta of 1.58. The stock’s fifty day moving average price is $19.04 and its 200 day moving average price is $19.55. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.94 and a quick ratio of 0.75.

Mesa Air Group (NASDAQ:RJET) last released 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 net margin of 3.29% and a return on equity of 6.13%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Par Capital Management Inc. bought a new stake in Mesa Air Group during the 2nd quarter valued at $2,091,000. Pinnacle Holdings LLC grew its position in shares of Mesa Air Group by 31.8% during the 3rd 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 in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Mesa Air Group during the third quarter valued at $56,000. Finally, Geode Capital Management LLC bought a new stake in shares of Mesa Air Group in the fourth quarter valued at about $442,000. Institutional investors own 13.34% of the company’s stock.

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.