Mesa Air Group (NASDAQ:RJET) Posts Quarterly Earnings Results

Mesa Air Group (NASDAQ:RJET) released its earnings results on Wednesday. The company reported $0.54 EPS for the quarter, Zacks reports. The business had revenue of $464.10 million during the quarter. Mesa Air Group had a negative return on equity of 1,171.23% and a negative net margin of 43.64%.

Mesa Air Group Stock Performance

Shares of Mesa Air Group stock traded down $0.56 during trading hours on Thursday, reaching $20.00. The company’s stock had a trading volume of 21,464 shares, compared to its average volume of 72,635. The company has a market capitalization of $558.60 million, a P/E ratio of -3.31 and a beta of 1.59. The stock’s fifty day simple moving average is $19.00 and its two-hundred day simple moving average is $19.90. Mesa Air Group has a one year low of $10.22 and a one year high of $25.80.

Hedge Funds Weigh In On Mesa Air Group

An institutional investor recently bought a new position in Mesa Air Group stock. Par Capital Management Inc. acquired a new position in shares of Mesa Air Group, Inc. (NASDAQ:RJET) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,248,190 shares of the company’s stock, valued at approximately $2,091,000. Par Capital Management Inc. owned about 5.37% of Mesa Air Group at the end of the most recent reporting period. Hedge funds and other institutional investors own 13.34% of the company’s stock.

Analysts Set New Price Targets

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

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.