Equitable Holdings Inc. Acquires Shares of 86,445 Mistras Group Inc $MG

Key Points

• Equitable Holdings acquired 86,445 Mistras Group shares worth approximately $1.51 million, giving it a 0.27% stake. Institutional investors collectively own 74.92% of the company.
• Mistras Group reported quarterly EPS of $0.28, exceeding the $0.24 consensus estimate, while revenue of $193.13 million also topped expectations.
• Shares opened at $18.52 after a reported 3.8% decline. Analysts maintain a “Moderate Buy” consensus with an average price target of $19.00.

Equitable Holdings Inc. bought a new position in shares of Mistras Group Inc (NYSE:MG - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 86,445 shares of the technology company's stock, valued at approximately $1,510,000. Equitable Holdings Inc. owned 0.27% of Mistras Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. lifted its stake in Mistras Group by 249.4% during the first quarter. Sei Investments Co. now owns 204,840 shares of the technology company's stock worth $3,028,000 after purchasing an additional 146,222 shares during the period. Royce & Associates LP grew its stake in shares of Mistras Group by 5.8% in the 4th quarter. Royce & Associates LP now owns 1,421,087 shares of the technology company's stock valued at $17,977,000 after purchasing an additional 78,340 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Mistras Group in the 1st quarter worth approximately $1,040,000. GSA Capital Partners LLP acquired a new position in shares of Mistras Group in the 2nd quarter worth approximately $1,392,000. Finally, Deutsche Bank AG bought a new position in shares of Mistras Group during the 2nd quarter worth approximately $6,804,000. Hedge funds and other institutional investors own 74.92% of the company's stock.

Mistras Group Stock Down 3.8%

NYSE MG opened at $18.52 on Friday. The stock's 50 day simple moving average is $17.07 and its 200 day simple moving average is $16.67. Mistras Group Inc has a one year low of $9.35 and a one year high of $20.20. The firm has a market cap of $589.86 million, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.16 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.

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings upgraded Mistras Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday. Wall Street Zen lowered shares of Mistras Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Zacks Research cut shares of Mistras Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Mistras Group Company 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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