Royce & Associates LP Decreases Stock Position in Mistras Group Inc (NYSE:MG)

Key Points

• Royce & Associates LP reduced its stake in Mistras Group Inc by 4.0%, holding approximately 1,384,847 shares valued at $14.65 million after selling 57,120 shares in the first quarter.
• Several institutional investors have increased their holdings, with CWM LLC raising its position by 194.3% and Tower Research Capital LLC TRC increasing by 447.2% in prior quarters.
• Mistras Group's stock is currently priced at $8.22, having reported a net loss of $0.01 EPS in its latest quarterly earnings, significantly below analysts' expectations.

Royce & Associates LP lessened its stake in Mistras Group Inc (NYSE:MG - Free Report) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,384,847 shares of the technology company's stock after selling 57,120 shares during the period. Royce & Associates LP owned approximately 4.42% of Mistras Group worth $14,652,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of Mistras Group by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 63,851 shares of the technology company's stock valued at $578,000 after acquiring an additional 2,033 shares during the period. American Century Companies Inc. grew its position in shares of Mistras Group by 35.6% during the 4th quarter. American Century Companies Inc. now owns 32,374 shares of the technology company's stock valued at $293,000 after acquiring an additional 8,499 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Mistras Group during the 4th quarter valued at $102,000. JPMorgan Chase & Co. grew its position in shares of Mistras Group by 49.8% during the 4th quarter. JPMorgan Chase & Co. now owns 93,667 shares of the technology company's stock valued at $849,000 after acquiring an additional 31,155 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Mistras Group by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 455,532 shares of the technology company's stock valued at $4,128,000 after acquiring an additional 2,143 shares during the period. Institutional investors own 74.92% of the company's stock.

Mistras Group Stock Performance

Shares of MG stock traded up $0.05 during mid-day trading on Monday, reaching $8.29. 23,880 shares of the company's stock traded hands, compared to its average volume of 143,481. Mistras Group Inc has a 12 month low of $7.06 and a 12 month high of $12.44. The firm has a 50 day moving average price of $7.82 and a two-hundred day moving average price of $8.99. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.38 and a current ratio of 1.50. The firm has a market capitalization of $259.73 million, a PE ratio of 17.64, a price-to-earnings-growth ratio of 0.77 and a beta of 1.37.

Mistras Group (NYSE:MG - Get Free Report) last released its earnings results on Wednesday, May 7th. The technology company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.17). Mistras Group had a net margin of 2.10% and a return on equity of 10.16%. The firm had revenue of $161.62 million for the quarter, compared to analysts' expectations of $180.70 million. On average, research analysts forecast that Mistras Group Inc will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.