Algert Global LLC Acquires 53,379 Shares of Mistras Group Inc $MG

Key Points

• Algert Global increased its Mistras Group stake by 29.8% in the second quarter, adding 53,379 shares for a total of 232,669 shares valued at approximately $4.1 million. Institutional investors collectively own 74.92% of the company.
• Analysts maintain a cautiously positive outlook, with a consensus “Moderate Buy” rating and a $19.00 target price. Ratings range from Buy to Hold.
• Mistras Group exceeded quarterly expectations, reporting $0.28 in earnings per share versus a $0.24 estimate and $193.13 million in revenue versus a $189.66 million forecast.

Algert Global LLC grew its holdings in shares of Mistras Group Inc (NYSE:MG - Free Report) by 29.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,669 shares of the technology company's stock after purchasing an additional 53,379 shares during the period. Algert Global LLC owned about 0.73% of Mistras Group worth $4,065,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MG. Dynamic Technology Lab Private Ltd bought a new position in Mistras Group during the 1st quarter worth $256,000. Empowered Funds LLC increased its position in shares of Mistras Group by 7.3% in the first quarter. Empowered Funds LLC now owns 218,088 shares of the technology company's stock worth $2,307,000 after purchasing an additional 14,786 shares during the period. American Century Companies Inc. raised its stake in Mistras Group by 24.4% in the second quarter. American Century Companies Inc. now owns 47,498 shares of the technology company's stock valued at $380,000 after purchasing an additional 9,312 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Mistras Group by 33.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 153,312 shares of the technology company's stock worth $1,228,000 after purchasing an additional 38,366 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in Mistras Group by 141.7% during the second quarter. Qube Research & Technologies Ltd now owns 111,824 shares of the technology company's stock worth $896,000 after buying an additional 65,551 shares in the last quarter. 74.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MG has been the subject of several analyst reports. Roth Capital started coverage on shares of Mistras Group in a research report on Thursday, April 30th. They issued a "buy" rating and a $22.00 target price for the company. Weiss Ratings raised shares of Mistras Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday. Wall Street Zen downgraded shares of Mistras Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Zacks Research cut Mistras Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.00.

Mistras Group Price Performance

MG stock opened at $19.31 on Friday. The stock has a market cap of $614.96 million, a price-to-earnings ratio of 23.26, a P/E/G ratio of 1.13 and a beta of 0.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.71 and a quick ratio of 1.58. The company has a 50 day simple moving average of $17.07 and a 200 day simple moving average of $16.66. Mistras Group Inc has a 1 year low of $9.35 and a 1 year high of $20.20.

Mistras Group (NYSE:MG - Get Free Report) last issued its earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.04. The firm had revenue of $193.13 million for the quarter, compared to analyst estimates of $189.66 million. Mistras Group had a net margin of 3.65% and a return on equity of 14.66%. Research analysts anticipate that Mistras Group Inc will post 1.04 EPS for the current fiscal year.

Mistras Group Profile

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company's offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.

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