Rutabaga Capital Management LLC MA lessened its stake in shares of Mistras Group Inc (NYSE:MG) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 733,618 shares of the technology company’s stock after selling 86,900 shares during the quarter. Mistras Group comprises about 3.0% of Rutabaga Capital Management LLC MA’s investment portfolio, making the stock its 14th biggest holding. Rutabaga Capital Management LLC MA owned 2.60% of Mistras Group worth $16,118,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of MG. Citigroup Inc. grew its position in Mistras Group by 964.9% in the second quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock worth $104,000 after buying an additional 4,284 shares during the last quarter. Victory Capital Management Inc. grew its position in Mistras Group by 66.6% in the first quarter. Victory Capital Management Inc. now owns 4,955 shares of the technology company’s stock worth $106,000 after buying an additional 1,981 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Mistras Group in the second quarter worth approximately $199,000. California Public Employees Retirement System acquired a new position in Mistras Group in the second quarter worth approximately $204,000. Finally, American International Group Inc. grew its position in Mistras Group by 7.0% in the first quarter. American International Group Inc. now owns 10,557 shares of the technology company’s stock worth $226,000 after buying an additional 694 shares during the last quarter. Institutional investors and hedge funds own 60.60% of the company’s stock.
Several research firms have issued reports on MG. Zacks Investment Research upgraded shares of Mistras Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Robert W. Baird decreased their price target on shares of Mistras Group from $24.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 9th. KeyCorp restated a “hold” rating on shares of Mistras Group in a research report on Friday, October 6th. Canaccord Genuity decreased their price target on shares of Mistras Group from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Thursday, August 10th. Finally, BidaskClub lowered shares of Mistras Group from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Mistras Group currently has a consensus rating of “Hold” and an average price target of $35.00.
Mistras Group Inc (NYSE MG) traded down 0.96% during trading on Friday, reaching $20.64. 14,489 shares of the company were exchanged. The firm has a 50-day moving average of $20.20 and a 200-day moving average of $20.87. Mistras Group Inc has a 52-week low of $17.00 and a 52-week high of $26.46. The firm has a market cap of $583.08 million, a price-to-earnings ratio of 43.91 and a beta of 1.17.
Mistras Group (NYSE:MG) last issued its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.07). Mistras Group had a return on equity of 7.04% and a net margin of 2.69%. The company had revenue of $170.44 million for the quarter, compared to the consensus estimate of $170.16 million. On average, equities analysts forecast that Mistras Group Inc will post $0.49 EPS for the current year.
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In other Mistras Group news, COO Jonathan H. Wolk bought 2,500 shares of Mistras Group stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average price of $17.41 per share, for a total transaction of $43,525.00. Following the completion of the acquisition, the chief operating officer now owns 83,589 shares of the company’s stock, valued at approximately $1,455,284.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael C. Keefe sold 4,462 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $18.05, for a total transaction of $80,539.10. Following the transaction, the executive vice president now owns 47,223 shares of the company’s stock, valued at approximately $852,375.15. The disclosure for this sale can be found here. 44.70% of the stock is owned by corporate insiders.
Mistras Group Profile
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