Mesa Air Group (NASDAQ:RJET) Shares Up 4.5% - Here's What Happened

Key Points

• Shares rose 4.5% intraday, trading as high as $22.22 and finishing around $21.99 on volume of 147,119 shares, about 22% above the average session volume.
• Mesa has a market capitalization of $1.03 billion and reported $0.54 EPS on $464.1 million in revenue last quarter, but shows a negative net margin (-6.32%) and a negative P/E (-12.42).
• Institutional ownership is about 13.34%, and several hedge funds (including Par Capital and Pinnacle) have recently built or increased positions in the stock.

Mesa Air Group, Inc. (NASDAQ:RJET - Get Free Report)'s share price shot up 4.5% during trading on Monday . The stock traded as high as $22.22 and last traded at $21.99. 147,119 shares were traded during trading, an increase of 22% from the average session volume of 120,398 shares. The stock had previously closed at $21.05.

Mesa Air Group Stock Performance

The firm's fifty day moving average price is $19.00 and its 200 day moving average price is $19.71. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $1.03 billion, a PE ratio of -12.42 and a beta of 1.73.

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

Hedge Funds Weigh In On Mesa Air Group

Several hedge funds have recently bought and sold shares of RJET. Par Capital Management Inc. acquired a new position in Mesa Air Group during the second quarter worth $2,091,000. Pinnacle Holdings LLC increased its position in Mesa Air Group by 31.8% during 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 acquired a new position in Mesa Air Group during the third quarter worth $56,000. Finally, Geode Capital Management LLC acquired a new position in Mesa Air Group during the fourth quarter worth $442,000. 13.34% of the stock is owned by institutional investors and hedge funds.

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.

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