Ameriprise Financial Inc. Grows Position in Mistras Group, Inc. (NYSE:MG)

Ameriprise Financial Inc. boosted its position in shares of Mistras Group, Inc. (NYSE:MG - Free Report) by 225.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,087 shares of the technology company's stock after buying an additional 110,916 shares during the quarter. Ameriprise Financial Inc. owned 0.52% of Mistras Group worth $1,450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of MG. Tower Research Capital LLC TRC increased its position in Mistras Group by 447.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,379 shares of the technology company's stock valued at $49,000 after purchasing an additional 4,396 shares during the period. Heck Capital Advisors LLC purchased a new stake in shares of Mistras Group during the fourth quarter valued at about $50,000. EntryPoint Capital LLC bought a new stake in shares of Mistras Group in the 4th quarter valued at about $102,000. Voya Investment Management LLC purchased a new position in shares of Mistras Group in the 4th quarter worth approximately $124,000. Finally, Algert Global LLC bought a new position in shares of Mistras Group during the 4th quarter worth approximately $139,000. Institutional investors own 74.92% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Mistras Group from a "buy" rating to a "hold" rating in a report on Saturday, May 17th.

Insiders Place Their Bets

In other news, Director Nicholas Debenedictis purchased 10,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was bought at an average price of $9.84 per share, for a total transaction of $98,400.00. Following the acquisition, the director now directly owns 217,511 shares of the company's stock, valued at approximately $2,140,308.24. The trade was a 4.82% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.80% of the stock is owned by company insiders.

Mistras Group Stock Performance

NYSE MG traded up $0.24 on Wednesday, reaching $7.79. 14,157 shares of the company's stock traded hands, compared to its average volume of 136,997. The stock has a 50 day moving average price of $8.77 and a 200-day moving average price of $9.29. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.55 and a current ratio of 1.68. The firm has a market cap of $243.90 million, a price-to-earnings ratio of 22.14, a P/E/G ratio of 0.73 and a beta of 1.42. 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 earnings results on Wednesday, May 7th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.17). The company had revenue of $161.62 million during the quarter, compared to analysts' expectations of $180.70 million. Mistras Group had a net margin of 1.52% and a return on equity of 9.32%. Equities research analysts predict that Mistras Group, Inc. will post 0.71 EPS for the current fiscal 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.