Mesa Air Group, Inc. (NASDAQ:RJET) Short Interest Up 86.0% in June

Key Points

• Short interest in Mesa Air Group jumped 86% in June, reaching 751,191 shares as of June 30. That represents about 1.7% of the float and a short-interest ratio of 2.6 days.
• Institutional ownership remains modest, with hedge fund Geode Capital Management recently adding a new stake of 24,061 shares valued at about $442,000. Overall, institutional investors and hedge funds hold 13.34% of the stock.
• Shares edged lower and analysts remain neutral, with RJET down 0.6% to $18.22 on Thursday. Weiss Ratings recently nudged the stock from “hold (c-)” to “hold (c),” and the consensus rating is still “Hold.”

Mesa Air Group, Inc. (NASDAQ:RJET - Get Free Report) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 751,191 shares, a growth of 86.0% from the June 15th total of 403,927 shares. Based on an average daily trading volume, of 291,756 shares, the short-interest ratio is currently 2.6 days. Approximately 1.7% of the company's stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mesa Air Group stock. Geode Capital Management LLC bought a new position in Mesa Air Group, Inc. (NASDAQ:RJET - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 24,061 shares of the company's stock, valued at approximately $442,000. Geode Capital Management LLC owned about 0.09% of Mesa Air Group as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 13.34% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Mesa Air Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold".

Mesa Air Group Stock Down 0.6%

Shares of RJET traded down $0.11 during trading on Thursday, reaching $18.22. The company's stock had a trading volume of 61,392 shares, compared to its average volume of 139,860. The company has a market cap of $853.22 million, a price-to-earnings ratio of 19.38 and a beta of 1.61. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average of $19.91 and a two-hundred day moving average of $19.16. Mesa Air Group has a twelve month low of $15.36 and a twelve month high of $26.70.

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

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.

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