Mesa Air Group (NASDAQ:MESA) Shares Up 6.6%

Mesa Air Group Inc (NASDAQ:MESA) shot up 6.6% on Wednesday . The company traded as high as $8.23 and last traded at $8.62, 18,085 shares were traded during mid-day trading. A decline of 90% from the average session volume of 182,649 shares. The stock had previously closed at $8.09.

Several analysts recently issued reports on MESA shares. Zacks Investment Research cut Mesa Air Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 15th. Cowen reaffirmed an “outperform” rating and set a $9.00 target price (down from $12.00) on shares of Mesa Air Group in a research note on Monday, August 12th. ValuEngine upgraded Mesa Air Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus set a $10.00 target price on Mesa Air Group and gave the stock a “buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $12.83.

The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.56 and a current ratio of 0.64. The stock’s fifty day moving average is $7.33 and its 200 day moving average is $8.13. The stock has a market cap of $272.01 million, a P/E ratio of 6.89, a P/E/G ratio of 0.19 and a beta of 1.68.

A number of hedge funds and other institutional investors have recently modified their holdings of MESA. UBS Group AG boosted its stake in Mesa Air Group by 0.5% during the second quarter. UBS Group AG now owns 1,535,378 shares of the company’s stock worth $14,033,000 after buying an additional 7,138 shares during the period. BlackRock Inc. raised its holdings in shares of Mesa Air Group by 68.8% in the second quarter. BlackRock Inc. now owns 1,356,556 shares of the company’s stock worth $12,400,000 after buying an additional 552,817 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Mesa Air Group by 60.9% during the 3rd quarter. Wedge Capital Management L L P NC now owns 1,348,619 shares of the company’s stock worth $9,096,000 after acquiring an additional 510,538 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Mesa Air Group by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 904,956 shares of the company’s stock worth $8,271,000 after acquiring an additional 20,784 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Mesa Air Group by 13.1% during the 2nd quarter. Vanguard Group Inc. now owns 887,327 shares of the company’s stock valued at $8,110,000 after acquiring an additional 102,519 shares during the period. 68.97% of the stock is currently owned by institutional investors.

About Mesa Air Group (NASDAQ:MESA)

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc, which provides regional air carrier services under capacity purchase agreements with the American Airlines and the United Airlines. As of September 30, 2018, it operated a fleet of 145 aircraft with approximately 730 daily departures to 110 cities in the United States, Canada, Mexico, Cuba, and the Bahamas.

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