Raymond James & Associates Sells 24,500 Shares of Mesa Air Group, Inc. (NASDAQ:MESA)

Raymond James & Associates cut its holdings in shares of Mesa Air Group, Inc. (NASDAQ:MESA) by 16.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 128,690 shares of the company’s stock after selling 24,500 shares during the period. Raymond James & Associates owned 0.32% of Mesa Air Group worth $328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Holdings LLC boosted its stake in shares of Mesa Air Group by 6.1% during the first quarter. Pinnacle Holdings LLC now owns 246,774 shares of the company’s stock valued at $585,000 after purchasing an additional 14,294 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Mesa Air Group by 58.8% during the first quarter. Royce & Associates LP now owns 751,557 shares of the company’s stock valued at $1,781,000 after purchasing an additional 278,200 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Mesa Air Group by 778.0% during the first quarter. Federated Hermes Inc. now owns 23,839 shares of the company’s stock valued at $105,000 after purchasing an additional 21,124 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Mesa Air Group during the first quarter valued at approximately $92,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Mesa Air Group by 35.6% during the fourth quarter. Wells Fargo & Company MN now owns 50,750 shares of the company’s stock valued at $78,000 after purchasing an additional 13,336 shares in the last quarter. 37.38% of the stock is currently owned by institutional investors.

Mesa Air Group Price Performance

NASDAQ MESA opened at $0.47 on Friday. The company has a market cap of $18.99 million, a PE ratio of -0.08 and a beta of 2.84. Mesa Air Group, Inc. has a 52-week low of $0.40 and a 52-week high of $3.82. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.69 and a current ratio of 0.82. The firm’s 50 day moving average price is $0.86 and its 200-day moving average price is $1.60.

Mesa Air Group (NASDAQ:MESA) last announced its earnings results on Wednesday, August 9th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.34). The firm had revenue of $114.69 million during the quarter, compared to analyst estimates of $126.27 million. Mesa Air Group had a negative net margin of 40.72% and a negative return on equity of 23.89%. Sell-side analysts forecast that Mesa Air Group, Inc. will post -1.66 EPS for the current fiscal year.

About Mesa Air Group

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services under capacity purchase agreements with the American Airlines, Inc and the United Airlines, Inc The company offers scheduled flight and cargo services. It also engages in the leasing of aircrafts and engine types to third parties.