Mesa Air Group (NASDAQ:RJET) Shares Down 7.5% - Here's Why

Key Points

• Shares fell 7.5% mid-day to $20.34 on Tuesday, with 52,672 shares trading—about 53% below the stock's average session volume and down from a prior close of $21.99.
• The company reported $0.54 EPS and $464.1 million in quarterly revenue but showed a negative net margin of 6.32%; key metrics include a quick ratio of 0.79, current ratio of 0.94, debt/equity of 0.66, market cap of ~$952.5M and a negative P/E (-11.49).
• Institutional ownership is about 13.34%, with several funds (including Geode Capital, Pinnacle Holdings, GSA Capital and Par Capital) recently adding or boosting positions in Mesa Air Group.

Mesa Air Group, Inc. (NASDAQ:RJET - Get Free Report) shares fell 7.5% during mid-day trading on Tuesday . The company traded as low as $20.34 and last traded at $20.34. 52,672 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 111,198 shares. The stock had previously closed at $21.99.

Mesa Air Group Stock Performance

The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The company has a market cap of $952.52 million, a PE ratio of -11.49 and a beta of 1.73. The business's fifty day moving average is $19.00 and its 200-day moving average is $19.71.

Mesa Air Group (NASDAQ:RJET - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.54 earnings per share (EPS) for the quarter. The company had revenue of $464.10 million for the quarter. Mesa Air Group had a negative net margin of 6.32% and a positive return on equity of 4.28%.

Hedge Funds Weigh In On Mesa Air Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC purchased a new position in shares of Mesa Air Group in the fourth quarter worth approximately $442,000. Pinnacle Holdings LLC boosted 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. GSA Capital Partners LLP purchased a new position in shares of Mesa Air Group in the third quarter worth approximately $56,000. Finally, Par Capital Management Inc. bought a new stake in Mesa Air Group during the 2nd quarter worth approximately $2,091,000. Hedge funds and other institutional investors own 13.34% of the company's stock.

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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