Mastech Digital (NYSE:MHH) Trading Down 7.6% – Here’s Why

Mastech Digital, Inc. (NYSE:MHH)’s share price fell 7.6% on Tuesday . The company traded as low as $5.61 and last traded at $5.61. 5,599 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 16,033 shares. The stock had previously closed at $6.07.

Mastech Digital Trading Up 4.3%

The stock has a market capitalization of $67.32 million, a price-to-earnings ratio of 19.85, a PEG ratio of 0.79 and a beta of 0.85. The stock has a 50-day moving average price of $6.67 and a 200 day moving average price of $7.10.

Insider Buying and Selling at Mastech Digital

In other Mastech Digital news, major shareholder Steven A. Shaw bought 4,480 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were purchased at an average price of $6.96 per share, for a total transaction of $31,180.80. Following the transaction, the insider directly owned 1,344,658 shares of the company’s stock, valued at approximately $9,358,819.68. This represents a 0.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 43.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mastech Digital

A number of large investors have recently added to or reduced their stakes in MHH. &PARTNERS lifted its holdings in Mastech Digital by 15.8% during the fourth quarter. &PARTNERS now owns 12,510 shares of the company’s stock valued at $87,000 after purchasing an additional 1,707 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Mastech Digital during the first quarter worth about $148,000. Advyzon Investment Management LLC acquired a new position in shares of Mastech Digital during the 3rd quarter worth about $168,000. Cetera Investment Advisers lifted its stake in Mastech Digital by 18.8% in the 2nd quarter. Cetera Investment Advisers now owns 25,107 shares of the company’s stock valued at $180,000 after buying an additional 3,975 shares in the last quarter. Finally, Indivisible Partners purchased a new position in Mastech Digital in the 4th quarter valued at about $321,000. 18.43% of the stock is currently owned by institutional investors and hedge funds.

Mastech Digital Company Profile

Mastech Digital (NYSE: MHH) is a technology services and digital transformation company that provides end-to-end solutions to help organizations modernize their operations. Headquartered in Pittsburgh, Pennsylvania, the company offers a combination of IT staffing and project-based delivery, enabling clients to accelerate cloud adoption, data analytics initiatives, and digital product development. Its blended service model supports enterprises looking to scale technology teams and implement complex digital strategies.

The company’s service portfolio includes IT staffing and recruitment, digital transformation consulting, and specialized digital solutions such as data management, analytics, artificial intelligence, and robotic process automation.