Mesa Air Group (NASDAQ:RJET) Shares Down 3% – Should You Sell?

Mesa Air Group, Inc. (NASDAQ:RJET) shares dropped 3% on Thursday . The company traded as low as $18.16 and last traded at $18.56. Approximately 97,397 shares were traded during trading, a decline of 14% from the average session volume of 112,766 shares. The stock had previously closed at $19.13.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Mesa Air Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Mesa Air Group presently has an average rating of “Hold”.

Mesa Air Group Price Performance

The business has a fifty day moving average of $19.27 and a 200 day moving average of $19.35. The firm has a market cap of $868.98 million, a P/E ratio of 21.33 and a beta of 1.64. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 0.63.

Mesa Air Group (NASDAQ:RJET) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter. The firm had revenue of $571.10 million for the quarter. Mesa Air Group had a return on equity of 7.07% and a net margin of 2.96%.

Institutional Inflows and Outflows

A hedge fund 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) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,248,190 shares of the company’s stock, valued at approximately $2,091,000. Par Capital Management Inc. owned 5.37% of Mesa Air Group at the end of the most recent reporting period. 13.34% of the stock is currently owned by institutional investors and hedge funds.

About Mesa Air Group

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.