38,136 Shares in Mistras Group Inc $MG Bought by Clearline Capital LP

Key Points

• Clearline Capital LP has acquired a new stake of 38,136 shares in Mistras Group Inc for approximately $403,000, representing about 0.12% of the company's stock.
• Several other institutional investors, including CWM LLC and Banque Transatlantique SA, have also significantly increased their holdings in Mistras Group.
• Analysts have raised Mistras Group's rating from "hold" to "buy," indicating growing confidence in the company's future performance.

Clearline Capital LP purchased a new stake in Mistras Group Inc (NYSE:MG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 38,136 shares of the technology company's stock, valued at approximately $403,000. Clearline Capital LP owned 0.12% of Mistras Group at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in Mistras Group during the first quarter worth approximately $256,000. Banque Transatlantique SA acquired a new stake in Mistras Group during the first quarter worth approximately $47,000. Cubist Systematic Strategies LLC acquired a new stake in Mistras Group during the first quarter worth approximately $421,000. State of Wyoming acquired a new stake in Mistras Group during the first quarter worth approximately $66,000. Finally, Ieq Capital LLC acquired a new stake in Mistras Group during the first quarter worth approximately $123,000. Institutional investors and hedge funds own 74.92% of the company's stock.

Mistras Group Stock Down 2.5%

Mistras Group stock traded down $0.25 during mid-day trading on Friday, reaching $9.48. The stock had a trading volume of 73,894 shares, compared to its average volume of 97,228. Mistras Group Inc has a fifty-two week low of $7.06 and a fifty-two week high of $12.44. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.54 and a current ratio of 1.66. The stock's 50-day simple moving average is $8.77 and its 200-day simple moving average is $8.81. The firm has a market capitalization of $298.84 million, a PE ratio of 25.61, a price-to-earnings-growth ratio of 0.91 and a beta of 1.33.

Mistras Group (NYSE:MG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. Mistras Group had a return on equity of 9.37% and a net margin of 1.64%.The company had revenue of $185.41 million for the quarter, compared to analyst estimates of $186.43 million. On average, sell-side analysts forecast that Mistras Group Inc will post 0.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Mistras Group from a "hold" rating to a "buy" rating in a research note on Friday, September 5th.

About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.