StockNews.com Initiates Coverage on Mastech Digital (NYSEAMERICAN:MHH)

Stock analysts at StockNews.com initiated coverage on shares of Mastech Digital (NYSEAMERICAN:MHH) in a research report issued to clients and investors on Saturday. The brokerage set a “buy” rating on the stock.

Mastech Digital Stock Performance

Mastech Digital stock opened at $8.36 on Friday. Mastech Digital has a fifty-two week low of $7.50 and a fifty-two week high of $11.45. The stock has a market cap of $97.14 million, a P/E ratio of -13.48, a PEG ratio of 0.86 and a beta of 0.53.

Mastech Digital (NYSEAMERICAN:MHH) last released its earnings results on Wednesday, February 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $46.05 million during the quarter, compared to analyst estimates of $46.38 million. Mastech Digital had a positive return on equity of 3.45% and a negative net margin of 3.55%. As a group, research analysts anticipate that Mastech Digital will post 0.51 earnings per share for the current year.

Institutional Trading of Mastech Digital

Hedge funds have recently added to or reduced their stakes in the stock. Capital Management Corp VA increased its holdings in Mastech Digital by 3.0% in the 3rd quarter. Capital Management Corp VA now owns 794,459 shares of the company’s stock worth $7,150,000 after acquiring an additional 23,325 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Mastech Digital by 11.8% in the third quarter. Janney Montgomery Scott LLC now owns 19,000 shares of the company’s stock worth $171,000 after purchasing an additional 2,000 shares in the last quarter. Anchor Capital Advisors LLC raised its position in shares of Mastech Digital by 65.2% in the third quarter. Anchor Capital Advisors LLC now owns 31,635 shares of the company’s stock valued at $285,000 after purchasing an additional 12,484 shares during the period. Finally, Access Investment Management LLC bought a new stake in shares of Mastech Digital in the fourth quarter valued at approximately $1,042,000. Institutional investors own 18.43% of the company’s stock.

Mastech Digital Company Profile

Mastech Digital, Inc, together with its subsidiaries, provides digital transformation IT services to large, medium-sized, and small companies in the United States. The company operates through Data and Analytics Services and IT Staffing Services segments. It offers data management and analytics services, including project-based consulting services in the areas of master data management, enterprise data integration, big data and analytics, and digital transformation by using onsite and offshore resources.