Mastech Digital (NYSE:MHH) Stock Falls 0.7% – Should You Sell?

Mastech Digital, Inc. (NYSE:MHH) dropped 0.7% on Monday. The stock traded as low as $7.26 and last traded at $7.30. 1,254 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 16,162 shares. The stock had previously closed at $7.35.

Mastech Digital Stock Performance

The firm has a market cap of $87.69 million, a PE ratio of 25.17, a PEG ratio of 0.79 and a beta of 0.84. The stock has a fifty day moving average price of $7.56 and a 200-day moving average price of $7.06.

Insiders Place Their Bets

In other Mastech Digital news, major shareholder Steven A. Shaw purchased 5,000 shares of Mastech Digital stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $7.47 per share, with a total value of $37,350.00. Following the completion of the transaction, the insider directly owned 55,000 shares in the company, valued at approximately $410,850. This represents a 10.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 42.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mastech Digital

Several large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in Mastech Digital in the 2nd quarter valued at $840,000. NewEdge Advisors LLC lifted its stake in shares of Mastech Digital by 144.9% during the second quarter. NewEdge Advisors LLC now owns 29,695 shares of the company’s stock worth $230,000 after purchasing an additional 17,569 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Mastech Digital by 57.9% in the first quarter. Janney Montgomery Scott LLC now owns 21,278 shares of the company’s stock worth $121,000 after buying an additional 7,800 shares during the period. Institutional investors and hedge funds own 18.43% of the company’s stock.

Mastech Digital Company Profile

Mastech Digital, Inc is a technology services company that provides digital transformation and information technology staffing solutions. Its services support organizations seeking to modernize applications, manage and analyze data, adopt cloud technologies, and develop digital products and platforms.

The company’s digital services have included data management, data engineering, analytics, artificial intelligence and machine learning, cloud services, application development, quality assurance, and related consulting.