Mesa Air Group (NASDAQ:RJET) Shares Gap Up – Here’s Why

Mesa Air Group, Inc. (NASDAQ:RJET)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $17.97, but opened at $19.85. Mesa Air Group shares last traded at $19.95, with a volume of 941 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Mesa Air Group to a “hold” rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Mesa Air Group Stock Up 2.5%

The business’s 50 day simple moving average is $18.83 and its two-hundred day simple moving average is $19.49. The stock has a market cap of $567.18 million, a P/E ratio of -3.36 and a beta of 1.72.

Institutional Investors Weigh In On Mesa Air Group

Several hedge funds and other institutional investors have recently modified their holdings of RJET. Orvieto Partners L.P. purchased a new stake in Mesa Air Group in the second quarter worth approximately $444,000. Par Capital Management Inc. bought a new position in Mesa Air Group in the 2nd quarter worth $2,091,000. GSA Capital Partners LLP purchased a new stake in Mesa Air Group in the third quarter worth about $56,000. Finally, Pinnacle Holdings LLC raised its holdings in 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 purchasing an additional 392,878 shares in the last quarter. 13.34% of the stock is currently owned by institutional investors.

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.