Cubist Systematic Strategies LLC Raises Holdings in Mistras Group Inc (MG)
Cubist Systematic Strategies LLC raised its position in Mistras Group Inc (NYSE:MG) by 55.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,077 shares of the technology company’s stock after buying an additional 5,005 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Mistras Group were worth $289,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. raised its stake in shares of Mistras Group by 964.9% in the second quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock valued at $104,000 after buying an additional 4,284 shares during the period. Victory Capital Management Inc. grew its position in shares of Mistras Group by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,829 shares of the technology company’s stock valued at $128,000 after purchasing an additional 874 shares in the last quarter. California Public Employees Retirement System purchased a new position in shares of Mistras Group in the second quarter valued at $204,000. Alliancebernstein L.P. purchased a new position in shares of Mistras Group in the second quarter valued at $260,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Mistras Group in the third quarter valued at $251,000. Hedge funds and other institutional investors own 61.94% of the company’s stock.
In related news, EVP Michael C. Keefe sold 4,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $22.80, for a total transaction of $91,200.00. Following the completion of the transaction, the executive vice president now directly owns 38,761 shares in the company, valued at $883,750.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. 44.70% of the stock is owned by insiders.
Mistras Group (NYSE:MG) last announced its quarterly earnings results on Monday, November 6th. The technology company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). Mistras Group had a net margin of 0.68% and a return on equity of 6.16%. The company had revenue of $179.57 million during the quarter, compared to analysts’ expectations of $172.28 million. analysts anticipate that Mistras Group Inc will post 0.46 EPS for the current year.
Several equities analysts have recently weighed in on MG shares. Canaccord Genuity reiterated a “hold” rating and issued a $22.00 price target on shares of Mistras Group in a research report on Friday, December 22nd. Goldman Sachs Group cut Mistras Group from a “neutral” rating to a “sell” rating and reduced their price target for the company from $45.00 to $41.00 in a research report on Monday, October 16th. Zacks Investment Research cut Mistras Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 30th. KeyCorp reiterated a “hold” rating on shares of Mistras Group in a research report on Friday, October 6th. Finally, Robert W. Baird cut Mistras Group from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $22.00 in a research report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Mistras Group presently has an average rating of “Hold” and an average target price of $34.86.
About Mistras Group
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