Martingale Asset Management L P Buys New Position in Mistras Group Inc $MG

Key Points

• Martingale Asset Management L P has acquired a new stake in Mistras Group Inc, purchasing 37,413 shares valued at approximately $396,000 during the first quarter.
• Other institutional investors have also significantly increased their positions in Mistras Group, with CWM LLC boosting its stake by 194.3% and Tower Research Capital LLC increasing theirs by 447.2%.
• Mistras Group's stock was recently downgraded from a "buy" to a "hold" rating by Wall Street analysts, amidst reports of a slight stock price decline of 1.6% to $9.4590.

Martingale Asset Management L P bought a new stake in shares of Mistras Group Inc (NYSE:MG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 37,413 shares of the technology company's stock, valued at approximately $396,000. Martingale Asset Management L P owned approximately 0.12% of Mistras Group at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC increased its position in Mistras Group by 194.3% during the 1st quarter. CWM LLC now owns 4,553 shares of the technology company's stock valued at $48,000 after buying an additional 3,006 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Mistras Group by 447.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,379 shares of the technology company's stock worth $49,000 after buying an additional 4,396 shares during the period. Heck Capital Advisors LLC acquired a new stake in Mistras Group during the 4th quarter worth about $50,000. Sherbrooke Park Advisers LLC acquired a new stake in Mistras Group during the 4th quarter worth about $96,000. Finally, Voya Investment Management LLC acquired a new position in shares of Mistras Group in the fourth quarter valued at about $124,000. 74.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Mistras Group from a "buy" rating to a "hold" rating in a report on Sunday, August 17th.

Mistras Group Stock Down 1.6%

Shares of MG stock opened at $9.4590 on Tuesday. The stock's 50-day simple moving average is $8.28 and its 200-day simple moving average is $8.84. 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 firm has a market capitalization of $298.34 million, a PE ratio of 25.56, a P/E/G ratio of 0.90 and a beta of 1.43. Mistras Group Inc has a fifty-two week low of $7.06 and a fifty-two week high of $12.44.

Mistras Group (NYSE:MG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $185.41 million during the quarter, compared to analysts' expectations of $186.43 million. Mistras Group had a return on equity of 9.37% and a net margin of 1.64%. Equities analysts expect that Mistras Group Inc will post 0.71 earnings per share for the current year.

Mistras Group Profile

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.

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