Insider Buying: Mastech Digital (NYSE:MHH) Major Shareholder Acquires 4,537 Shares of Stock

Key Points

• Steven Shaw, a major shareholder of Mastech Digital, purchased 4,537 shares of the company at an average price of $7.76 per share, increasing his total ownership to over 1.3 million shares.
• Mastech Digital's stock has experienced a 1.5% decline, trading at about $7.73, with a 52-week low of $6.20 and a high of $16.00.
• Recent transactions show substantial interest from institutional investors, including a 14.1% increase in holdings by Capital Management Corp VA and a 39.0% increase by Envestnet Asset Management Inc.

Mastech Digital, Inc. (NYSE:MHH - Get Free Report) major shareholder Steven A. Shaw acquired 4,537 shares of the company's stock in a transaction dated Friday, September 19th. The shares were acquired at an average price of $7.76 per share, for a total transaction of $35,207.12. Following the completion of the purchase, the insider owned 1,336,105 shares of the company's stock, valued at approximately $10,368,174.80. This represents a 0.34% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Mastech Digital Stock Performance

Shares of Mastech Digital stock traded up $0.02 during trading on Tuesday, hitting $7.83. 1,838 shares of the company's stock were exchanged, compared to its average volume of 18,244. Mastech Digital, Inc. has a 52-week low of $6.20 and a 52-week high of $16.00. The business has a 50-day simple moving average of $7.63 and a 200-day simple moving average of $7.38. The stock has a market capitalization of $92.21 million, a price-to-earnings ratio of 26.98, a PEG ratio of 0.79 and a beta of 0.89.

Hedge Funds Weigh In On Mastech Digital

Several large investors have recently made changes to their positions in MHH. Capital Management Corp VA grew its stake in shares of Mastech Digital by 14.1% in the second quarter. Capital Management Corp VA now owns 881,578 shares of the company's stock worth $6,321,000 after acquiring an additional 109,037 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Mastech Digital by 39.0% in the first quarter. Envestnet Asset Management Inc. now owns 195,264 shares of the company's stock valued at $1,994,000 after buying an additional 54,766 shares during the last quarter. Access Investment Management LLC acquired a new position in Mastech Digital during the second quarter worth approximately $859,000. HighTower Advisors LLC grew its stake in Mastech Digital by 30.8% during the first quarter. HighTower Advisors LLC now owns 43,426 shares of the company's stock worth $443,000 after buying an additional 10,233 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Mastech Digital by 74.3% in the fourth quarter. Northern Trust Corp now owns 25,631 shares of the company's stock valued at $382,000 after purchasing an additional 10,930 shares during the period. 18.43% of the stock is currently owned by institutional investors and hedge funds.

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.