Mastech Digital (NYSE:MHH) Major Shareholder Buys $28,000.00 in Stock

Key Points

• Major shareholder Steven Shaw of Mastech Digital acquired 3,500 shares at $8.00 each, totaling $28,000, increasing his ownership to over 1.33 million shares.
• The stock price of Mastech Digital has seen a recent increase of 5.0%, with current trading at approximately $7.90 after fluctuating between a twelve month low of $6.20 and a high of $16.00.
• Institutional investors have significantly increased their stakes in Mastech Digital, with notable increases from firms such as Northern Trust Corp and Barclays PLC, reflecting growing interest in the company.

Mastech Digital, Inc. (NYSE:MHH - Get Free Report) major shareholder Steven A. Shaw purchased 3,500 shares of the stock in a transaction dated Friday, August 29th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $28,000.00. Following the acquisition, the insider directly owned 1,331,568 shares of the company's stock, valued at $10,652,544. This represents a 0.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Mastech Digital Stock Performance

Shares of MHH stock traded up $0.01 on Friday, reaching $7.92. 14,740 shares of the company's stock traded hands, compared to its average volume of 18,769. Mastech Digital, Inc. has a 12-month low of $6.20 and a 12-month high of $16.00. The company has a market capitalization of $93.27 million, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 0.79 and a beta of 0.89. The business's 50 day moving average price is $7.54 and its two-hundred day moving average price is $7.38.

Institutional Trading of Mastech Digital

Several hedge funds and other institutional investors have recently modified their holdings of MHH. Barclays PLC raised its holdings in shares of Mastech Digital by 24.1% during the fourth quarter. Barclays PLC now owns 8,120 shares of the company's stock worth $122,000 after acquiring an additional 1,576 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Mastech Digital during the fourth quarter worth $156,000. Dimensional Fund Advisors LP raised its holdings in shares of Mastech Digital by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 238,705 shares of the company's stock worth $3,557,000 after acquiring an additional 3,922 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Mastech Digital by 74.3% during the fourth quarter. Northern Trust Corp now owns 25,631 shares of the company's stock worth $382,000 after acquiring an additional 10,930 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in shares of Mastech Digital during the fourth quarter worth $159,000. 18.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Mastech Digital from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st.

Mastech Digital Company Profile

Mastech Digital, Inc, together with its subsidiaries, provides digital transformation IT services to large, medium-sized, and small companies in the United States. The company operates through Data and Analytics Services and IT Staffing Services segments. It offers data management and analytics services, including project-based consulting services in the areas of master data management, enterprise data integration, big data and analytics, and digital transformation by using onsite and offshore resources.