Mesa Air Group (NASDAQ:RJET) Trading Up 10.3% – Still a Buy?

Mesa Air Group, Inc. (NASDAQ:RJET) shares rose 10.3% during mid-day trading on Wednesday . The stock traded as high as $21.24 and last traded at $20.80. Approximately 111,979 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 115,173 shares. The stock had previously closed at $18.86.

Analysts Set New Price Targets

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

Mesa Air Group Stock Performance

The company has a market capitalization of $1.10 billion, a P/E ratio of 25.08 and a beta of 1.58. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.94 and a quick ratio of 0.75. The stock’s 50 day simple moving average is $19.08 and its two-hundred day simple moving average is $19.57.

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

Institutional Investors Weigh In On Mesa Air Group

Several hedge funds and other institutional investors have recently made changes to their positions in RJET. Geode Capital Management LLC bought a new stake in shares of Mesa Air Group during the fourth quarter worth $442,000. GSA Capital Partners LLP acquired a new stake in Mesa Air Group in the third quarter worth about $56,000. Pinnacle Holdings LLC raised its holdings in Mesa Air Group by 31.8% during the 3rd 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 last quarter. Finally, Par Capital Management Inc. bought a new stake in Mesa Air Group during the 2nd quarter worth about $2,091,000. 13.34% of the stock is owned by institutional investors and hedge funds.

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.