Mistras Group Inc (MG) Downgraded to “Neutral” at Robert W. Baird
Robert W. Baird downgraded shares of Mistras Group Inc (NYSE:MG) from an outperform rating to a neutral rating in a report published on Monday. They currently have $22.00 price target on the technology company’s stock, up from their prior price target of $21.00.
Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity lowered their price objective on shares of Mistras Group from $22.00 to $20.00 and set a hold rating for the company in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Mistras Group from a sell rating to a hold rating in a research report on Wednesday, July 12th. KeyCorp reiterated a hold rating on shares of Mistras Group in a research report on Friday, August 25th. Finally, BidaskClub cut shares of Mistras Group from a hold rating to a sell rating in a research note on Friday, August 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Mistras Group has an average rating of Hold and a consensus price target of $35.00.
Shares of Mistras Group (NYSE MG) opened at 20.63 on Monday. The stock has a 50 day moving average of $19.53 and a 200-day moving average of $20.85. Mistras Group has a 52 week low of $17.00 and a 52 week high of $26.46. The firm has a market capitalization of $582.80 million, a price-to-earnings ratio of 43.89 and a beta of 1.17.
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). The company had revenue of $170.44 million for the quarter, compared to analyst estimates of $170.16 million. Mistras Group had a return on equity of 7.04% and a net margin of 2.69%. Analysts expect that Mistras Group will post $0.49 earnings per share for the current year.
In other Mistras Group news, COO Jonathan H. Wolk acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were acquired at an average cost of $17.41 per share, for a total transaction of $43,525.00. Following the completion of the acquisition, the chief operating officer now directly owns 83,589 shares of the company’s stock, valued at approximately $1,455,284.49. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Sotirios J. Vahaviolos sold 94,877 shares of the stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $21.08, for a total transaction of $2,000,007.16. Following the completion of the transaction, the chairman now owns 10,651,632 shares in the company, valued at $224,536,402.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,829 shares of company stock worth $4,003,459. 44.70% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Citigroup Inc. grew its holdings in Mistras Group by 964.9% during the 2nd quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock worth $104,000 after acquiring an additional 4,284 shares during the period. Victory Capital Management Inc. raised its position in shares of Mistras Group by 66.6% during the 1st quarter. Victory Capital Management Inc. now owns 4,955 shares of the technology company’s stock valued at $106,000 after acquiring an additional 1,981 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Mistras Group during the 2nd quarter valued at $199,000. California Public Employees Retirement System bought a new stake in shares of Mistras Group during the 2nd quarter valued at $204,000. Finally, American International Group Inc. raised its position in shares of Mistras Group by 7.0% during the 1st quarter. American International Group Inc. now owns 10,557 shares of the technology company’s stock valued at $226,000 after acquiring an additional 694 shares during the last quarter. 60.60% of the stock is currently owned by hedge funds and other institutional investors.
About Mistras Group
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