Mastech Digital, Inc. (NYSE:MHH) Short Interest Down 27.5% in October

Mastech Digital, Inc. (NYSE:MHH) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 18,200 shares, a decrease of 27.5% from the September 30th total of 25,100 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 9,100 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 9,100 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.5% of the shares of the company are sold short.

Mastech Digital Stock Performance

Shares of MHH traded up $0.25 during midday trading on Monday, hitting $7.15. 4,227 shares of the stock traded hands, compared to its average volume of 17,211. The business’s 50 day moving average price is $7.43 and its two-hundred day moving average price is $7.25. The firm has a market capitalization of $84.26 million, a PE ratio of 24.66, a price-to-earnings-growth ratio of 0.79 and a beta of 0.88. Mastech Digital has a 1-year low of $6.20 and a 1-year high of $16.00.

Insider Activity

In related news, major shareholder Steven A. Shaw acquired 4,537 shares of Mastech Digital stock in a transaction that occurred on Friday, September 19th. The stock was acquired at an average price of $7.76 per share, for a total transaction of $35,207.12. Following the transaction, the insider directly owned 1,336,105 shares of the company’s stock, valued at $10,368,174.80. This trade represents a 0.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders purchased 12,837 shares of company stock valued at $100,551. Company insiders own 43.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MHH. James Investment Research Inc. acquired a new position in Mastech Digital in the second quarter worth approximately $87,000. Janney Montgomery Scott LLC boosted its holdings in shares of Mastech Digital by 17.9% in the second quarter. Janney Montgomery Scott LLC now owns 16,500 shares of the company’s stock worth $118,000 after buying an additional 2,500 shares during the period. NewEdge Advisors LLC acquired a new stake in Mastech Digital during the 1st quarter worth about $148,000. Cetera Investment Advisers lifted its position in shares of Mastech Digital by 18.8% in the second quarter. Cetera Investment Advisers now owns 25,107 shares of the company’s stock worth $180,000 after purchasing an additional 3,975 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Mastech Digital by 30.8% during the first quarter. HighTower Advisors LLC now owns 43,426 shares of the company’s stock valued at $443,000 after purchasing an additional 10,233 shares in the last quarter. Institutional investors and hedge funds 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.