Mesa Air Group (NASDAQ:RJET) Reaches New 1-Year High – Should You Buy?

Mesa Air Group, Inc. (NASDAQ:RJET) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.70 and last traded at $24.77, with a volume of 697896 shares. The stock had previously closed at $23.57.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Mesa Air Group from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Mesa Air Group Trading Up 5.1%

The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 26.35 and a beta of 1.58. The firm has a 50-day moving average price of $19.46 and a 200-day moving average price of $19.65. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67.

Mesa Air Group (NASDAQ:RJET) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter. Mesa Air Group had a return on equity of 6.13% and a net margin of 3.29%.The company had revenue of $527.40 million for the quarter.

Institutional Investors Weigh In On Mesa Air Group

Hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in shares of Mesa Air Group during the third quarter valued at $56,000. Geode Capital Management LLC purchased a new position in shares of Mesa Air Group during the fourth quarter valued at $442,000. Par Capital Management Inc. purchased a new position in shares of Mesa Air Group during the second quarter valued at $2,091,000. Finally, Pinnacle Holdings LLC grew its holdings 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 valued at $2,117,000 after buying an additional 392,878 shares in the last quarter. 13.34% of the stock is owned by hedge funds and other 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.