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

Shares of Mesa Air Group, Inc. (NASDAQ:RJET) dropped 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 changed hands 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.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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 MarketBeat.com, Mesa Air Group currently has an average rating of “Sell”.

Mesa Air Group Trading Down 0.1%

The company has a market cap of $501.83 million, a price-to-earnings ratio of -2.97 and a beta of 1.72. The stock’s 50-day moving average is $18.84 and its 200-day moving average is $19.44.

Institutional Trading of Mesa Air Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Par Capital Management Inc. bought a new position in Mesa Air Group in the second quarter worth approximately $2,091,000. Pinnacle Holdings LLC raised its position in shares of 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 purchasing an additional 392,878 shares during the period. Orvieto Partners L.P. bought a new position in shares of Mesa Air Group in the 2nd quarter worth $444,000. Finally, GSA Capital Partners LLP acquired a new stake in Mesa Air Group in the 3rd quarter valued at $56,000. 13.34% of the stock is owned by 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.