Weiss Ratings Reaffirms Sell (D-) Rating for Mesa Air Group (NASDAQ:MESA)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Mesa Air Group (NASDAQ:MESA), indicating ongoing concerns about the company's financial health and stock performance.
• Mesa Air Group's stock saw a 6.1% increase recently, trading at $1.39, despite having a negative net margin of 43.65% and a PE ratio of -0.32.
• Hedge funds have been active in Mesa Air Group, with several firms recently acquiring new stakes, contributing to a total of 13.34% ownership by institutional investors.

Mesa Air Group (NASDAQ:MESA - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Mesa Air Group Stock Up 6.1%

Shares of MESA opened at $1.39 on Wednesday. The business's 50-day moving average price is $1.24 and its 200-day moving average price is $1.09. Mesa Air Group has a twelve month low of $0.68 and a twelve month high of $1.43. The stock has a market cap of $58.21 million, a PE ratio of -0.32 and a beta of 3.03.

Mesa Air Group (NASDAQ:MESA - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $92.78 million during the quarter. Mesa Air Group had a negative net margin of 43.65% and a negative return on equity of 1,171.23%.

Hedge Funds Weigh In On Mesa Air Group

Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in shares of Mesa Air Group in the fourth quarter worth approximately $25,000. GEM Asset Management LLC lifted its holdings in shares of Mesa Air Group by 384.4% during the 1st quarter. GEM Asset Management LLC now owns 52,287 shares of the company's stock valued at $42,000 after buying an additional 41,493 shares during the period. Pinnacle Holdings LLC boosted its stake in shares of Mesa Air Group by 8.4% in the 1st quarter. Pinnacle Holdings LLC now owns 820,953 shares of the company's stock worth $643,000 after buying an additional 63,828 shares during the last quarter. Orvieto Partners L.P. bought a new stake in shares of Mesa Air Group in the second quarter worth $444,000. Finally, Par Capital Management Inc. purchased a new stake in shares of Mesa Air Group during the 2nd quarter valued at about $2,091,000. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

Mesa Air Group Company Profile

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.

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