Mesa Air Group (NASDAQ:RJET) Shares Down 0.1% – Should You Sell?

Mesa Air Group, Inc. (NASDAQ:RJET) dropped 0.1% during mid-day trading on Thursday . The company traded as low as $17.17 and last traded at $17.97. Approximately 81,081 shares changed hands during trading, an increase of 56% from the average daily volume of 52,095 shares. The stock had previously closed at $17.99.

Analyst Ratings Changes

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

Mesa Air Group Stock Down 0.1%

The business has a 50-day moving average price of $18.84 and a 200-day moving average price of $19.44. The firm has a market capitalization of $501.83 million, a price-to-earnings ratio of -2.97 and a beta of 1.72.

Hedge Funds Weigh In On Mesa Air Group

Several hedge funds have recently modified their holdings of RJET. Orvieto Partners L.P. acquired a new stake in Mesa Air Group in the 2nd quarter worth approximately $444,000. Pinnacle Holdings LLC raised its holdings in shares of Mesa Air Group by 31.8% in the third quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after buying an additional 392,878 shares during the last quarter. Par Capital Management Inc. acquired a new stake in shares of Mesa Air Group during the second quarter worth $2,091,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Mesa Air Group during the third quarter valued at $56,000. Institutional investors and hedge funds own 13.34% of the company’s stock.

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.