GSA Capital Partners LLP Raises Position in Mistras Group Inc. (MG)
GSA Capital Partners LLP boosted its position in shares of Mistras Group Inc. (NYSE:MG) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,920 shares of the company’s stock after buying an additional 1,453 shares during the period. GSA Capital Partners LLP owned approximately 0.06% of Mistras Group worth $428,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. A.R.T. Advisors LLC purchased a new position in shares of Mistras Group during the first quarter worth $209,000. American Century Companies Inc. purchased a new position in shares of Mistras Group during the second quarter worth $208,000. Strs Ohio raised its position in shares of Mistras Group by 81.1% in the second quarter. Strs Ohio now owns 9,600 shares of the company’s stock worth $229,000 after buying an additional 4,300 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Mistras Group during the second quarter worth $310,000. Finally, Algert Global LLC purchased a new position in shares of Mistras Group during the first quarter worth $379,000. 56.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of Mistras Group Inc. (NYSE:MG) traded down 0.86% during trading on Tuesday, reaching $24.09. The company’s stock had a trading volume of 65,698 shares. Mistras Group Inc. has a 52 week low of $12.65 and a 52 week high of $26.47. The company has a 50 day moving average price of $24.27 and a 200 day moving average price of $24.46. The firm has a market capitalization of $697.53 million, a P/E ratio of 29.38 and a beta of 1.25.
Mistras Group (NYSE:MG) last announced its quarterly earnings results on Wednesday, August 10th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.22. The company earned $184.20 million during the quarter, compared to the consensus estimate of $177.59 million. Mistras Group had a return on equity of 10.61% and a net margin of 3.43%. Mistras Group’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 EPS. On average, equities research analysts expect that Mistras Group Inc. will post $5.22 EPS for the current fiscal year.
A number of brokerages have recently weighed in on MG. Robert W. Baird raised Mistras Group from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $27.00 to $28.00 in a report on Friday, August 12th. CIBC increased their price objective on Mistras Group from $45.00 to $47.00 and gave the company a “sector perform” rating in a report on Tuesday, August 9th. TD Securities dropped their target price on Mistras Group from $51.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, July 11th. Finally, Zacks Investment Research lowered Mistras Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $37.93.
In other news, insider Dennis Bertolotti sold 21,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $24.97, for a total value of $524,370.00. Following the completion of the sale, the insider now directly owns 101,062 shares of the company’s stock, valued at approximately $2,523,518.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 45.60% of the company’s stock.
About Mistras Group
Mistras Group, Inc is a provider of asset protection solutions. The Company offers one source for asset protection solutions to its customers. The Company has three segments: Services, Products and Systems, and International. The Company’s Services segment provides asset protection solutions consisting primarily of non-destructive testing and inspection, and engineering services that are used to evaluate the structural integrity and reliability of energy, industrial and public infrastructure.
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