Weber Capital Management LLC ADV Sells 88,008 Shares of Mistras Group Inc $MG

Key Points

• Weber Capital Management reduced its Mistras Group stake by 6.1%, selling 88,008 shares in the third quarter. It still held 1.36 million shares, worth approximately $28.6 million, representing 26.1% of its portfolio and about 4.27% of Mistras Group.
• Institutional investors and hedge funds own 74.92% of Mistras Group, with several firms—including Empowered Funds and Equitable Holdings—establishing new positions during the second quarter.
• Mistras Group recently exceeded earnings expectations, reporting quarterly EPS of $0.28 versus the $0.24 consensus and revenue of $193.13 million. Analysts maintain a “Moderate Buy” consensus, though the average price target of $19 is below the reported share price of $21.50.

Weber Capital Management LLC ADV reduced its position in Mistras Group Inc (NYSE:MG - Free Report) by 6.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,360,146 shares of the technology company's stock after selling 88,008 shares during the quarter. Mistras Group comprises about 26.1% of Weber Capital Management LLC ADV's holdings, making the stock its largest position. Weber Capital Management LLC ADV owned approximately 4.27% of Mistras Group worth $28,645,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Ellsworth Advisors LLC lifted its stake in shares of Mistras Group by 2.8% in the 3rd quarter. Ellsworth Advisors LLC now owns 43,520 shares of the technology company's stock worth $917,000 after acquiring an additional 1,204 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Mistras Group by 84.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,258 shares of the technology company's stock worth $68,000 after buying an additional 1,493 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Mistras Group during the second quarter worth $296,000. Empowered Funds LLC purchased a new position in Mistras Group in the second quarter worth $3,939,000. Finally, Equitable Holdings Inc. purchased a new position in Mistras Group in the second quarter worth $1,510,000. 74.92% of the stock is owned by institutional investors and hedge funds.

Mistras Group Price Performance

Shares of MG stock traded up $0.04 during mid-day trading on Monday, reaching $21.50. The stock had a trading volume of 117,991 shares, compared to its average volume of 226,659. The company has a market cap of $684.62 million, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. Mistras Group Inc has a 12-month low of $9.45 and a 12-month high of $21.92. The business has a 50-day simple moving average of $19.76 and a 200 day simple moving average of $18.07.

Mistras Group (NYSE:MG - Get Free Report) last announced its earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. Mistras Group had a net margin of 3.65% and a return on equity of 14.66%. The company had revenue of $193.13 million during the quarter, compared to analysts' expectations of $189.66 million. On average, sell-side analysts anticipate that Mistras Group Inc will post 1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MG shares. Wall Street Zen lowered shares of Mistras Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Mistras Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Mistras Group Profile

MISTRAS Group, Inc NYSE: MG is an asset protection and industrial inspection company that helps organizations monitor the safety, reliability and integrity of critical infrastructure. Its services support industries including oil and gas, power generation, aerospace and defense, chemicals, transportation, infrastructure and manufacturing.

The company provides nondestructive testing (NDT), inspection, engineering, mechanical integrity and asset monitoring services. Its capabilities include acoustic emission testing, ultrasonic testing, radiography, visual inspection, rope access, corrosion assessment and structural health monitoring.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.