Wedge Capital Management L L P NC raised its stake in shares of Mistras Group Inc (NYSE:MG) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 871,988 shares of the technology company’s stock after buying an additional 83,012 shares during the period. Wedge Capital Management L L P NC owned approximately 3.09% of Mistras Group worth $17,876,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MG. Citigroup Inc. grew its stake in shares of Mistras Group by 964.9% in the 2nd quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock worth $104,000 after purchasing an additional 4,284 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Mistras Group by 66.6% in the 1st quarter. Victory Capital Management Inc. now owns 4,955 shares of the technology company’s stock worth $106,000 after purchasing an additional 1,981 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Mistras Group in the 2nd quarter worth approximately $199,000. California Public Employees Retirement System acquired a new position in shares of Mistras Group in the 2nd quarter worth approximately $204,000. Finally, American International Group Inc. grew its stake in shares of Mistras Group by 7.0% in the 1st quarter. American International Group Inc. now owns 10,557 shares of the technology company’s stock worth $226,000 after purchasing an additional 694 shares during the last quarter. 60.89% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Michael C. Keefe sold 4,462 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $18.05, for a total transaction of $80,539.10. Following the sale, the executive vice president now owns 47,223 shares of the company’s stock, valued at approximately $852,375.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Sotirios J. Vahaviolos sold 90,490 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $21.25, for a total value of $1,922,912.50. Following the sale, the chairman now directly owns 10,561,142 shares in the company, valued at approximately $224,424,267.50. The disclosure for this sale can be found here. Insiders own 44.70% of the company’s stock.

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Shares of Mistras Group Inc (NYSE:MG) opened at $21.14 on Monday. The company has a current ratio of 2.34, a quick ratio of 2.20 and a debt-to-equity ratio of 0.40. The company has a market cap of $597.22, a P/E ratio of 32.52 and a beta of 1.16. Mistras Group Inc has a fifty-two week low of $17.00 and a fifty-two week high of $26.46.

Mistras Group (NYSE:MG) last issued its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.07). Mistras Group had a net margin of 2.69% and a return on equity of 7.04%. The business had revenue of $170.44 million during the quarter, compared to analyst estimates of $170.16 million. analysts anticipate that Mistras Group Inc will post 0.45 EPS for the current year.

MG has been the topic of several recent research reports. KeyCorp reaffirmed a “hold” rating on shares of Mistras Group in a research note on Friday, August 25th. Canaccord Genuity dropped their target price on shares of Mistras Group from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Mistras Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Robert W. Baird downgraded shares of Mistras Group from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $21.00 to $22.00 in a research report on Monday, October 2nd. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Mistras Group from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $45.00 to $41.00 in a research report on Monday, October 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $36.00.

About Mistras Group

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

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