Mistras Group Inc (NYSE:MG) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 169,400 shares, a decline of 9.3% from the June 30th total of 186,800 shares. Based on an average daily volume of 79,900 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.0% of the company’s stock are sold short.
A number of analysts have weighed in on MG shares. ValuEngine raised Mistras Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. TheStreet raised Mistras Group from a “d+” rating to a “c-” rating in a research report on Wednesday, June 26th. Zacks Investment Research raised Mistras Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, Credit Suisse Group started coverage on Mistras Group in a research report on Thursday, June 27th. They issued a “neutral” rating and a $55.00 price target for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Mistras Group currently has an average rating of “Hold” and an average target price of $31.50.
Shares of NYSE:MG traded down $0.01 on Friday, reaching $15.59. The company had a trading volume of 129,600 shares, compared to its average volume of 82,684. Mistras Group has a twelve month low of $12.38 and a twelve month high of $23.13. The stock has a 50-day moving average price of $15.18 and a 200 day moving average price of $14.46. The stock has a market capitalization of $459.98 million, a P/E ratio of 28.35, a P/E/G ratio of 1.45 and a beta of 1.20. The company has a quick ratio of 1.60, a current ratio of 1.72 and a debt-to-equity ratio of 0.97.
In other news, Director Nicholas Debenedictis bought 2,010 shares of the stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $13.97 per share, for a total transaction of $28,079.70. Following the completion of the purchase, the director now directly owns 53,589 shares of the company’s stock, valued at approximately $748,638.33. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, COO Jonathan H. Wolk bought 2,500 shares of the stock in a transaction on Wednesday, June 5th. The stock was purchased at an average price of $13.76 per share, for a total transaction of $34,400.00. Following the purchase, the chief operating officer now directly owns 94,900 shares of the company’s stock, valued at $1,305,824. The disclosure for this purchase can be found here. Insiders acquired 13,546 shares of company stock worth $187,751 in the last 90 days. Corporate insiders own 42.40% of the company’s stock.
Several large investors have recently made changes to their positions in MG. BNP Paribas Arbitrage SA lifted its position in shares of Mistras Group by 667.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,082 shares of the technology company’s stock worth $56,000 after purchasing an additional 3,550 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its position in shares of Mistras Group by 440.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,186 shares of the technology company’s stock worth $89,000 after purchasing an additional 5,041 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Mistras Group during the 2nd quarter worth about $103,000. CHICAGO TRUST Co NA acquired a new position in shares of Mistras Group during the 2nd quarter worth about $145,000. Finally, Prudential Financial Inc. lifted its position in shares of Mistras Group by 9.0% during the 2nd quarter. Prudential Financial Inc. now owns 10,919 shares of the technology company’s stock worth $157,000 after purchasing an additional 900 shares during the last quarter. 58.96% of the stock is owned by institutional investors.
About Mistras Group
Mistras Group, Inc provides technology-enabled asset protection solutions worldwide. The company operates through three segments: Services, International, and Products and Systems. It offers traditional non-destructive testing, and inspection and testing program services; and engineering consulting services.
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