Mesa Air (MESA)

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	41.78 mm	41.78 mm	41.78 mm	41.78 mm	41.78 mm	41.78 mm
Cash burn (monthly)	1.25 mm	(no burn)	3.86 mm	14.15 mm	(no burn)	3.42 mm
Cash used (since last report)	5.60 mm	n/a	17.35 mm	63.56 mm	n/a	15.37 mm
Cash remaining	36.18 mm	n/a	24.43 mm	-21.78 mm	n/a	26.41 mm
Runway (months of cash)	29.0	n/a	6.3	-1.5	n/a	7.7

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Financial data from Mesa Air earnings reports.

Institutional ownership, Q4 2024

MESA institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	43	43	–
Opened positions	10	7	+42.9%
Closed positions	10	10	–
Increased positions	7	9	-22.2%
Reduced positions	12	11	+9.1%

13F shares	Current	Prev Q	Change
Total value	4.91 bn	5.54 bn	-11.4%
Total shares	10.53 mm	11.05 mm	-4.7%
Total puts	0.00	27.30 k	EXIT
Total calls	127.60 k	56.40 k	+126.2%
Total put/call ratio	–	0.5	–

Largest owners	Shares	Value	Change
UAL United Airlines	4.04 mm	$8.37 mm	0.0%
Vanguard	1.73 mm	$2.01 bn	-1.9%
Marblegate Asset Management	1.55 mm	$13.87 mm	0.0%
Pinnacle	757.13 k	$878.27 mm	+10.8%
Integrated Core Strategies	564.46 k	$9.36 mm	0.0%
BLK BlackRock	443.52 k	$514.49 mm	0.0%
Geode Capital Management	359.44 k	$417.06 mm	-1.1%
Annandale Capital	145.61 k	$169.00 k	-51.7%
STT State Street	125.49 k	$145.57 mm	0.0%
Squarepoint Ops	100.78 k	$116.90 mm	NEW

Largest transactions	Shares	Bought/sold	Change
EAM Investors	0.00	-374.89 k	EXIT
Susquehanna International	0.00	-270.21 k	EXIT
Annandale Capital	145.61 k	-155.66 k	-51.7%
Squarepoint Ops	100.78 k	+100.78 k	NEW
Pinnacle	757.13 k	+73.74 k	+10.8%
Citadel Advisors	72.29 k	+67.90 k	+1545.6%
Group One Trading	6.91 k	-41.36 k	-85.7%
UBS UBS	38.48 k	+38.48 k	+3848000.0%
RJF Raymond James Financial	38.29 k	+38.29 k	NEW
Raymond James & Associates	0.00	-36.19 k	EXIT

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

MESA insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
3 Feb 26	United Airlines	Common Stock	Other	Acquire J	Yes	No	0	2,744,348	0.00	10,490,745
31 Dec 25	Matthew Koscal	Common Stock	Payment of exercise	Dispose F	No	No	18.37	4,879	89.63 k	385,716
31 Dec 25	Chad M. Pulley	Common Stock	Payment of exercise	Dispose F	No	No	18.37	2,656	48.79 k	184,434
31 Dec 25	Paul Kinstedt	Common Stock	Payment of exercise	Dispose F	No	No	18.37	3,484	64.00 k	231,138
25 Nov 25	Skiados Spyridon	Common Stock	Grant	Acquire A	No	No	0	1,483	0.00	9,762

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.