Mastech Digital (NYSE:MHH) Major Shareholder Steven Shaw Buys 2,500 Shares of Stock

Key Points

• Major shareholder Steven Shaw bought 2,500 Mastech Digital shares at an average price of $6.44, investing $16,100 and increasing his position by 4.55% to 57,500 shares.
• MHH shares traded at $6.38, with a market capitalization of approximately $76.7 million; the stock remains below its 50-day and 200-day moving averages of $7.21 and $7.15.
• Institutional investors own 18.43% of Mastech Digital, with NewEdge Advisors and Janney Montgomery Scott increasing their holdings while BlackRock established a new position.

Mastech Digital, Inc. (NYSE:MHH - Get Free Report) major shareholder Steven Shaw purchased 2,500 shares of Mastech Digital stock in a transaction that occurred on Monday, October 19th. The stock was acquired at an average cost of $6.44 per share, with a total value of $16,100.00. Following the acquisition, the insider directly owned 57,500 shares of the company's stock, valued at $370,300. The trade was a 4.55% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Mastech Digital Stock Performance

Shares of MHH stock traded up $0.00 during mid-day trading on Wednesday, reaching $6.38. 5,024 shares of the company were exchanged, compared to its average volume of 15,495. The company has a market capitalization of $76.68 million, a P/E ratio of 22.29, a P/E/G ratio of 0.79 and a beta of 0.86. Mastech Digital, Inc. has a fifty-two week low of $5.50 and a fifty-two week high of $8.37. The business's 50 day simple moving average is $7.21 and its 200 day simple moving average is $7.15.

Institutional Trading of Mastech Digital

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in shares of Mastech Digital by 144.9% during the second quarter. NewEdge Advisors LLC now owns 29,695 shares of the company's stock worth $230,000 after acquiring an additional 17,569 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Mastech Digital during the second quarter valued at approximately $840,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Mastech Digital by 57.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,278 shares of the company's stock worth $121,000 after buying an additional 7,800 shares in the last quarter. Institutional investors own 18.43% of the company's stock.

About Mastech Digital

Mastech Digital, Inc is a digital services and information technology staffing company headquartered in Pittsburgh, Pennsylvania. The company helps organizations address technology and workforce needs through digital transformation services and the placement of skilled IT professionals.

Its digital services include data and analytics, cloud and digital engineering, application development, modernization, automation, and related technology consulting. Mastech Digital also provides contract, contract-to-hire, and direct-hire staffing services for areas such as software development, data management, enterprise applications, infrastructure, and other specialized IT functions.

Founded in 1986, the company has served clients across industries including financial services, healthcare, manufacturing, retail, and technology.

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.