Heartland Advisors now top stockholder in Mesa
WASHINGTON » Mesa Air Group Inc. investor Heartland Advisors Inc. increased its stake to 14 percent to become the largest stockholder in the regional carrier.
Heartland, a Milwaukee-based money manager, boosted its holdings to about 4.08 million shares, according to a U.S. regulatory filing yesterday. Heartland previously held 2.87 million shares of Phoenix-based Mesa, or about 10 percent, according to data compiled by Bloomberg.
Donald Smith & Co., a New York-based investment adviser, had been Mesa's largest investor with a 12 percent stake. Smith reduced its holdings to about 2.87 million shares, or 10 percent, according to a U.S. Securities and Exchange Commission filing today, making it the second-biggest investor in the airline.
Mesa makes regional flights for US Airways Group Inc., United Airlines and Delta Air Lines Inc., as well as under its own name and as Go! airlines in Hawaii.
Mesa fell 8 cents, or 2.2 percent, to close at $3.52 yesterday. The shares have gained 14 percent this year, after declining 64 percent in all of 2007.
Heartland's stake is valued at $14.4 million based on yesterday's closing price.