Mastech Digital (NYSE:MHH) Stock Price Down 0.7% – Time to Sell?

Mastech Digital, Inc. (NYSE:MHH)’s stock price fell 0.7% during trading on Monday. The company traded as low as $7.26 and last traded at $7.30. 1,254 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 16,162 shares. The stock had previously closed at $7.35.

Mastech Digital Stock Down 0.1%

The company has a 50 day moving average of $7.56 and a 200 day moving average of $7.07. The stock has a market capitalization of $86.49 million, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84.

Insider Activity

In related news, major shareholder Steven A. Shaw bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were acquired at an average cost of $7.47 per share, with a total value of $37,350.00. Following the completion of the transaction, the insider owned 55,000 shares of the company’s stock, valued at approximately $410,850. The trade was a 10.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 42.90% of the company’s stock.

Hedge Funds Weigh In On Mastech Digital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Mastech Digital during the 2nd quarter valued at $840,000. NewEdge Advisors LLC raised its position in shares of Mastech Digital by 144.9% in the 2nd quarter. NewEdge Advisors LLC now owns 29,695 shares of the company’s stock worth $230,000 after buying an additional 17,569 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Mastech Digital by 57.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,278 shares of the company’s stock worth $121,000 after buying an additional 7,800 shares during the period. Institutional investors and hedge funds own 18.43% of the company’s stock.

About Mastech Digital

Mastech Digital, Inc is a technology services company that provides digital transformation and information technology staffing solutions. Its services support organizations seeking to modernize applications, manage and analyze data, adopt cloud technologies, and develop digital products and platforms.

The company’s digital services have included data management, data engineering, analytics, artificial intelligence and machine learning, cloud services, application development, quality assurance, and related consulting.