Mesa Air Group (MESA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Mesa Air Group (NASDAQ:MESA) from a hold rating to a sell rating in a research report report published on Wednesday morning.

According to Zacks, “Mesa Air Group, Inc. provides airlines services. The Company offers passenger transportation and regional air services. Mesa Air Group, Inc. is based in Phoenix, Arizona. “

MESA has been the topic of a number of other reports. Imperial Capital assumed coverage on Mesa Air Group in a research note on Tuesday, September 4th. They set an outperform rating and a $18.00 target price on the stock. Bank of America assumed coverage on Mesa Air Group in a research note on Tuesday, September 4th. They set a buy rating and a $20.00 target price on the stock. Stifel Nicolaus assumed coverage on Mesa Air Group in a research note on Tuesday, September 4th. They set a buy rating and a $15.00 target price on the stock. Raymond James assumed coverage on Mesa Air Group in a research note on Tuesday, September 4th. They set a strong-buy rating and a $20.00 target price on the stock. Finally, Cowen assumed coverage on Mesa Air Group in a research note on Tuesday, September 4th. They set an outperform rating and a $16.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $17.80.

Shares of NASDAQ MESA traded down $0.66 during mid-day trading on Wednesday, reaching $14.46. 148,857 shares of the company’s stock were exchanged, compared to its average volume of 105,125. Mesa Air Group has a 52 week low of $11.05 and a 52 week high of $16.41. The company has a current ratio of 0.50, a quick ratio of 0.43 and a debt-to-equity ratio of 3.56.

Mesa Air Group (NASDAQ:MESA) last released its earnings results on Monday, August 27th. The company reported $0.21 EPS for the quarter. The business had revenue of $171.74 million for the quarter. Equities analysts predict that Mesa Air Group will post 1.15 EPS for the current year.

In related news, COO Michael L. Ferverda sold 9,473 shares of Mesa Air Group stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $11.16, for a total value of $105,718.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan G. Ornstein sold 277,388 shares of Mesa Air Group stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $11.16, for a total value of $3,095,650.08. The disclosure for this sale can be found here. In the last three months, insiders sold 479,701 shares of company stock valued at $5,353,463.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Mercantile Trust Co. purchased a new stake in Mesa Air Group in the 3rd quarter worth about $295,000. Dean Capital Investments Management LLC purchased a new stake in Mesa Air Group in the 3rd quarter worth about $708,000. FMR LLC purchased a new stake in Mesa Air Group in the 3rd quarter worth about $2,370,000. Monarch Partners Asset Management LLC purchased a new stake in Mesa Air Group in the 3rd quarter worth about $2,471,000. Finally, BlackRock Inc. purchased a new stake in Mesa Air Group in the 3rd quarter worth about $9,267,000. 0.01% of the stock is owned by institutional investors.

About Mesa Air Group

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc, which provides regional air services under capacity purchase agreements with the American Airlines and the United Airlines. As of March 31, 2018, it operated 145 aircraft with approximately 610 daily departures to 110 cities in the United States, Canada, Mexico, the Bahamas, and Cuba.

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