Mesa Air Group’s (NASDAQ:MESA) quiet period is set to expire on Wednesday, September 19th. Mesa Air Group had issued 10,700,000 shares in its public offering on August 10th. The total size of the offering was $149,800,000 based on an initial share price of $14.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several research firms recently weighed in on MESA. Imperial Capital began coverage on shares of Mesa Air Group in a research note on Tuesday, September 4th. They issued an “outperform” rating and a $18.00 target price for the company. Raymond James began coverage on shares of Mesa Air Group in a research note on Tuesday, September 4th. They issued a “strong-buy” rating and a $20.00 target price for the company. Cowen assumed coverage on shares of Mesa Air Group in a research note on Tuesday, September 4th. They issued an “outperform” rating and a $16.00 target price for the company. Bank of America assumed coverage on Mesa Air Group in a report on Tuesday, September 4th. They set a “buy” rating and a $20.00 price target for the company. Finally, Stifel Nicolaus assumed coverage on Mesa Air Group in a report on Tuesday, September 4th. They set a “buy” rating and a $15.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Mesa Air Group presently has an average rating of “Buy” and a consensus price target of $17.80.
Mesa Air Group stock traded down $0.34 during mid-day trading on Friday, hitting $12.99. 106,950 shares of the company’s stock traded hands, compared to its average volume of 326,259. Mesa Air Group has a fifty-two week low of $11.05 and a fifty-two week high of $16.41.
Mesa Air Group (NASDAQ:MESA) last posted its earnings results on Monday, August 27th. The company reported $0.21 earnings per share for the quarter. The firm had revenue of $171.74 million for the quarter. On average, sell-side analysts forecast that Mesa Air Group will post 1.15 EPS for the current fiscal year.
In related news, Director Ellen N. Artist sold 12,635 shares of the business’s stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $11.16, for a total value of $141,006.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael L. Ferverda sold 9,473 shares of the business’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $11.16, for a total value of $105,718.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 479,701 shares of company stock valued at $5,353,463.
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.
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