A group including Acquisitor Holdings (Bermuda) Ltd. reported having a 7.34 percent stake in Mercury Air Group Inc., according to a filing on Monday with the Securities and Exchange Commission.

The group said it purchased Mercury Air stock because it believes the shares are undervalued and represent an attractive investment opportunity, Dow Jones Newswires reported this week.

The group held 472,400 Mercury Air common shares after buying 406,900 shares between October 9 and Monday for $2.98 to $3.36 a share, the filing said.

The group said it plans to have open communications with Mercury Air's management and, though it has no plans right now, it may in the future formulate plans to influence the company, such as nominating a director or presenting other shareholder proposals, the filing said.

Mercury Air, Los Angeles, provides aviation petroleum products, air cargo services and transportation, and support services.