Renaissance Technologies LLC Sells 81,100 Shares of Mistras Group Inc $MG

Key Points

• Renaissance Technologies reduced its Mistras Group stake by 40.2%, selling 81,100 shares and retaining 120,500 shares valued at approximately $1.78 million. Institutional investors collectively own 74.92% of MG.
• Mistras Group shares were trading at $18.64, near their 52-week high, after rising 18.1%. The company recently reported quarterly EPS of $0.28 and revenue of $193.13 million, exceeding analyst expectations.
• Analyst sentiment is mixed, with one Buy and two Hold ratings; the stock carries an overall “Hold” consensus and a $19 average price target, although Roth Capital set a $22 target.

Renaissance Technologies LLC lessened its position in shares of Mistras Group Inc (NYSE:MG - Free Report) by 40.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,500 shares of the technology company's stock after selling 81,100 shares during the quarter. Renaissance Technologies LLC owned about 0.38% of Mistras Group worth $1,781,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MG. Torren Management LLC acquired a new position in Mistras Group in the fourth quarter valued at about $28,000. Kemnay Advisory Services Inc. acquired a new position in shares of Mistras Group during the 4th quarter worth about $74,000. MetLife Investment Management LLC increased its stake in shares of Mistras Group by 17.8% in the 4th quarter. MetLife Investment Management LLC now owns 7,035 shares of the technology company's stock valued at $89,000 after acquiring an additional 1,065 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Mistras Group by 22.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,417 shares of the technology company's stock valued at $73,000 after acquiring an additional 1,360 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Mistras Group in the 4th quarter valued at approximately $141,000. Institutional investors own 74.92% of the company's stock.

Mistras Group Trading Up 18.1%

NYSE MG opened at $18.64 on Wednesday. Mistras Group Inc has a 52 week low of $8.93 and a 52 week high of $19.64. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 1.81. The stock's 50 day moving average price is $16.97 and its two-hundred day moving average price is $16.29. The stock has a market capitalization of $593.25 million, a price-to-earnings ratio of 22.46, a PEG ratio of 0.94 and a beta of 0.89.

Mistras Group (NYSE:MG - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The company had revenue of $193.13 million during the quarter, compared to analysts' expectations of $189.66 million. Mistras Group had a net margin of 3.65% and a return on equity of 14.79%. As a group, analysts anticipate that Mistras Group Inc will post 1.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MG shares. Wall Street Zen raised Mistras Group from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 10th. Zacks Research cut Mistras Group from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 8th. Weiss Ratings restated a "hold (c)" rating on shares of Mistras Group in a report on Friday, July 17th. Finally, Roth Capital assumed coverage on shares of Mistras Group in a research note on Thursday, April 30th. They issued a "buy" rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $19.00.

About Mistras Group

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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