Short Interest in Mesa Air Group Inc (NASDAQ:MESA) Drops By 15.2%

Mesa Air Group Inc (NASDAQ:MESA) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 1,280,000 shares, a decrease of 15.2% from the August 31st total of 1,510,000 shares. Based on an average trading volume of 648,800 shares, the days-to-cover ratio is presently 2.0 days.

Several hedge funds have recently modified their holdings of MESA. Bridgeway Capital Management Inc. increased its stake in Mesa Air Group by 7.5% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 285,000 shares of the company’s stock worth $980,000 after acquiring an additional 20,000 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Mesa Air Group during the 2nd quarter worth $257,000. Marshall Wace LLP bought a new position in shares of Mesa Air Group in the second quarter worth $72,000. Goldman Sachs Group Inc. lifted its position in Mesa Air Group by 14.6% during the second quarter. Goldman Sachs Group Inc. now owns 48,312 shares of the company’s stock worth $166,000 after purchasing an additional 6,139 shares during the period. Finally, Prudential Financial Inc. grew its stake in Mesa Air Group by 189.0% during the second quarter. Prudential Financial Inc. now owns 503,017 shares of the company’s stock worth $1,730,000 after buying an additional 328,954 shares in the last quarter. Institutional investors and hedge funds own 60.03% of the company’s stock.

Shares of Mesa Air Group stock remained flat at $$2.95 during trading on Thursday. 267,239 shares of the stock were exchanged, compared to its average volume of 768,960. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.29 and a current ratio of 0.37. The firm’s 50 day moving average price is $3.49 and its 200-day moving average price is $3.47. Mesa Air Group has a 52 week low of $2.05 and a 52 week high of $9.65. The firm has a market capitalization of $104.47 million, a price-to-earnings ratio of 3.64, a PEG ratio of 0.37 and a beta of 2.34.

Mesa Air Group (NASDAQ:MESA) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.36. Mesa Air Group had a net margin of 4.53% and a return on equity of 6.58%. The business had revenue of $73.10 million during the quarter, compared to analysts’ expectations of $80.20 million. During the same quarter in the previous year, the company earned $0.30 EPS. The business’s revenue was down 59.4% on a year-over-year basis. On average, equities analysts forecast that Mesa Air Group will post 0.66 EPS for the current year.

MESA has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Mesa Air Group from a “buy” rating to a “hold” rating in a research report on Friday, August 14th. ValuEngine upgraded Mesa Air Group from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Finally, Deutsche Bank upgraded Mesa Air Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $4.00 to $5.50 in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Mesa Air Group has a consensus rating of “Hold” and a consensus price target of $4.93.

Mesa Air Group Company Profile

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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