Mesa Air Group (NASDAQ:RJET) Sees Large Volume Increase – What’s Next?

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) saw unusually-high trading volume on Friday . Approximately 354,426 shares changed hands during mid-day trading, an increase of 406% from the previous session’s volume of 70,045 shares.The stock last traded at $19.77 and had previously closed at $19.80.

Analyst Ratings Changes

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

Mesa Air Group Price Performance

The stock has a market cap of $551.62 million, a PE ratio of -3.27 and a beta of 1.72. The business has a 50 day moving average price of $18.84 and a two-hundred day moving average price of $19.63.

Institutional Trading of Mesa Air Group

A number of institutional investors have recently modified their holdings of RJET. Geode Capital Management LLC bought a new stake in shares of Mesa Air Group in the fourth quarter worth about $442,000. GSA Capital Partners LLP bought a new stake in shares of Mesa Air Group in the 3rd quarter worth approximately $56,000. Orvieto Partners L.P. bought a new stake in shares of Mesa Air Group in the 2nd quarter worth approximately $444,000. Pinnacle Holdings LLC raised its holdings in shares of Mesa Air Group by 31.8% during 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 in the last quarter. Finally, Par Capital Management Inc. purchased a new stake in Mesa Air Group in the second quarter worth $2,091,000. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

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.