Fmr LLC bought a new stake in shares of Mesa Air Group Inc (NASDAQ:MESA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 171,000 shares of the company’s stock, valued at approximately $2,370,000. Fmr LLC owned about 0.74% of Mesa Air Group at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Axar Capital Management L.P. acquired a new position in shares of Mesa Air Group during the third quarter valued at approximately $23,686,000. Frontier Capital Management Co. LLC purchased a new stake in shares of Mesa Air Group in the third quarter valued at approximately $18,935,000. Bank of New York Mellon Corp purchased a new stake in shares of Mesa Air Group in the third quarter valued at approximately $15,679,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Mesa Air Group in the third quarter valued at approximately $13,431,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Mesa Air Group in the third quarter valued at approximately $12,189,000. 67.64% of the stock is owned by institutional investors and hedge funds.
MESA stock opened at $7.89 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $175.21 million and a PE ratio of 6.41. Mesa Air Group Inc has a 1 year low of $6.36 and a 1 year high of $16.41.
Mesa Air Group (NASDAQ:MESA) last posted its quarterly earnings results on Monday, December 3rd. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. The company had revenue of $177.53 million during the quarter, compared to analysts’ expectations of $180.96 million. The business’s revenue was up 12.9% compared to the same quarter last year. Equities research analysts predict that Mesa Air Group Inc will post 2.3 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on the company. Imperial Capital restated an “outperform” rating and issued a $16.00 price target (down from $18.00) on shares of Mesa Air Group in a research report on Thursday, December 13th. Cowen restated a “buy” rating and issued a $16.00 price target on shares of Mesa Air Group in a research report on Sunday, December 9th. Finally, Zacks Investment Research lowered Mesa Air Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 7th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Mesa Air Group presently has a consensus rating of “Buy” and an average target price of $17.40.
Mesa Air Group Company Profile
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.
Further Reading: Leveraged Buyout (LBO)
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