Mesa Air Group (NASDAQ:RJET) Stock Price Down 3.3% – What’s Next?

Mesa Air Group, Inc. (NASDAQ:RJET)’s stock price traded down 3.3% on Tuesday . The stock traded as low as $18.53 and last traded at $18.54. 30,981 shares changed hands during trading, an increase of 4% from the average session volume of 29,838 shares. The stock had previously closed at $19.17.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Mesa Air Group in a report on Wednesday, October 8th. Wall Street Zen raised Mesa Air Group to a “hold” rating in a research note on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Mesa Air Group Stock Performance

The firm’s fifty day moving average price is $20.96 and its 200 day moving average price is $18.79. The firm has a market cap of $519.22 million, a P/E ratio of -3.08 and a beta of 1.60.

Hedge Funds Weigh In On Mesa Air Group

A number of hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new position in shares of Mesa Air Group in the third quarter worth $56,000. Orvieto Partners L.P. purchased a new position in Mesa Air Group in the second quarter worth $444,000. Par Capital Management Inc. purchased a new stake in shares of Mesa Air Group during the 2nd quarter worth approximately $2,091,000. Finally, Pinnacle Holdings LLC raised its position in Mesa Air Group by 31.8% during the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after acquiring an additional 392,878 shares during the last quarter. 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.