Mesa Air Group (NASDAQ:RJET) Trading Down 0.1% – Here’s Why

Mesa Air Group, Inc. (NASDAQ:RJET)’s stock price was down 0.1% during mid-day trading on Thursday . The stock traded as low as $17.17 and last traded at $17.97. Approximately 81,081 shares were traded during mid-day trading, an increase of 56% from the average daily volume of 52,095 shares. The stock had previously closed at $17.99.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded 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 data from MarketBeat, the stock has an average rating of “Sell”.

Mesa Air Group Stock Up 10.2%

The company’s 50 day simple moving average is $18.83 and its 200-day simple moving average is $19.46. The firm has a market cap of $553.29 million, a P/E ratio of -3.28 and a beta of 1.72.

Institutional Trading of Mesa Air Group

A number of hedge funds and other institutional investors have recently bought and sold shares of RJET. GSA Capital Partners LLP purchased a new stake in shares of Mesa Air Group during the third quarter valued at $56,000. Orvieto Partners L.P. purchased a new position in Mesa Air Group in the 2nd quarter worth about $444,000. Pinnacle Holdings LLC lifted its holdings in Mesa Air Group by 31.8% during the 3rd 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 in the last quarter. Finally, Par Capital Management Inc. purchased a new stake in Mesa Air Group in the 2nd quarter valued at about $2,091,000. Hedge funds and other 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.