Zacks Investment Management reduced its position in shares of Mistras Group Inc (NYSE:MG) by 4.4% during the third quarter, Holdings Channel reports. The fund owned 70,668 shares of the company’s stock after selling 3,235 shares during the period. Zacks Investment Management owned about 0.24% of Mistras Group worth $1,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. American International Group Inc. increased its stake in shares of Mistras Group by 0.6% in the second quarter. American International Group Inc. now owns 9,875 shares of the company’s stock valued at $236,000 after buying an additional 61 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Mistras Group by 1.4% in the third quarter. Rhumbline Advisers now owns 18,037 shares of the company’s stock valued at $423,000 after buying an additional 250 shares during the last quarter. A.R.T. Advisors LLC increased its stake in shares of Mistras Group by 3.5% in the second quarter. A.R.T. Advisors LLC now owns 8,769 shares of the company’s stock valued at $209,000 after buying an additional 300 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Mistras Group by 0.8% in the third quarter. California State Teachers Retirement System now owns 36,269 shares of the company’s stock valued at $851,000 after buying an additional 300 shares during the last quarter. Finally, BlackRock Advisors LLC increased its stake in shares of Mistras Group by 4.2% in the second quarter. BlackRock Advisors LLC now owns 8,381 shares of the company’s stock valued at $200,000 after buying an additional 335 shares during the last quarter. 56.40% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Mistras Group (NYSE:MG)

Shares of Mistras Group Inc (NYSE:MG) traded down 0.34% during trading on Friday, hitting $23.64. 76,381 shares of the stock were exchanged. The company has a market cap of $680.74 million, a price-to-earnings ratio of 35.66 and a beta of 1.11. The stock’s 50 day moving average price is $24.76 and its 200-day moving average price is $23.68. Mistras Group Inc has a one year low of $19.26 and a one year high of $26.47.

Mistras Group (NYSE:MG) last announced its quarterly earnings data on Wednesday, January 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.05. Mistras Group had a net margin of 3.00% and a return on equity of 8.78%. The business had revenue of $179.60 million for the quarter. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, analysts predict that Mistras Group Inc will post $0.86 EPS for the current year.

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Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Mistras Group from a “sell” rating to a “hold” rating in a research note on Tuesday, December 13th. Canaccord Genuity assumed coverage on shares of Mistras Group in a research note on Tuesday. They issued a “hold” rating and a $25.00 price objective for the company. Finally, Scotiabank reissued an “outperform” rating and issued a $65.00 price objective on shares of Mistras Group in a research note on Friday, January 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $45.50.

In other Mistras Group news, Chairman Sotirios J. Vahaviolos sold 85,234 shares of the business’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $23.46, for a total value of $1,999,589.64. Following the transaction, the chairman now directly owns 11,483,211 shares in the company, valued at approximately $269,396,130.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Sotirios J. Vahaviolos sold 81,103 shares of the business’s stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $24.66, for a total transaction of $1,999,999.98. Following the completion of the transaction, the chairman now owns 11,213,333 shares in the company, valued at $276,520,791.78. The disclosure for this sale can be found here. Corporate insiders own 45.60% of the company’s stock.

Mistras Group Company Profile

5 Day Chart for NYSE:MG

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