Mesa Air Group (NASDAQ:RJET) Announces Earnings Results

Mesa Air Group (NASDAQ:RJET) released its quarterly earnings data on Wednesday. The company reported $0.73 earnings per share for the quarter, FiscalAI reports. Mesa Air Group had a positive return on equity of 4.28% and a negative net margin of 6.32%.The business had revenue of $527.40 million during the quarter.

Mesa Air Group Trading Down 3.7%

NASDAQ RJET traded down $0.66 on Wednesday, hitting $17.12. The company’s stock had a trading volume of 132,207 shares, compared to its average volume of 111,435. Mesa Air Group has a 52-week low of $13.50 and a 52-week high of $25.80. 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 company’s 50-day simple moving average is $19.01 and its 200 day simple moving average is $19.64. The firm has a market cap of $801.71 million, a P/E ratio of -9.67 and a beta of 1.73.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Mesa Air Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, April 20th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Mesa Air Group currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Mesa Air Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC purchased a new stake in Mesa Air Group in the 4th quarter worth approximately $442,000. Pinnacle Holdings LLC raised its position in shares of Mesa Air Group by 31.8% in the 3rd quarter. Pinnacle Holdings LLC now owns 1,628,136 shares of the company’s stock worth $2,117,000 after acquiring an additional 392,878 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Mesa Air Group in the 3rd quarter worth approximately $56,000. Finally, Par Capital Management Inc. bought a new position in shares of Mesa Air Group in the 2nd quarter worth approximately $2,091,000. Hedge funds and other institutional investors own 13.34% of the company’s stock.

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.