Pinnacle Holdings LLC Has $878,000 Holdings in Mesa Air Group, Inc. (NASDAQ:MESA)

Pinnacle Holdings LLC boosted its stake in Mesa Air Group, Inc. (NASDAQ:MESA) by 10.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 757,125 shares of the company’s stock after buying an additional 73,736 shares during the quarter. Pinnacle Holdings LLC’s holdings in Mesa Air Group were worth $878,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MESA. Raymond James Financial Inc. acquired a new stake in Mesa Air Group in the 4th quarter worth approximately $44,000. Renaissance Technologies LLC raised its position in shares of Mesa Air Group by 50.4% in the fourth quarter. Renaissance Technologies LLC now owns 82,414 shares of the company’s stock valued at $96,000 after purchasing an additional 27,614 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Mesa Air Group by 64.9% in the fourth quarter. Federated Hermes Inc. now owns 65,352 shares of the company’s stock worth $76,000 after buying an additional 25,715 shares during the last quarter. 13.34% of the stock is currently owned by hedge funds and other institutional investors.

Mesa Air Group Stock Down 4.5 %

Mesa Air Group stock opened at $1.05 on Wednesday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.45 and a quick ratio of 0.29. Mesa Air Group, Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $1.89. The firm has a fifty day moving average price of $1.04 and a two-hundred day moving average price of $1.08. The firm has a market cap of $43.38 million, a price-to-earnings ratio of -0.46 and a beta of 3.10.

Mesa Air Group Company Profile

Mesa Air Group, Inc operates as the holding company for Mesa Airlines, Inc that provides regional air carrier scheduled passenger services. The company offers scheduled flight and cargo services. As of September 30, 2023, it operated a fleet of 80 aircraft with approximately 296 daily departures to 86 cities in the United States and Mexico.