Mastech Digital (NYSE:MHH) Stock: Insider Steven Shaw Acquires 2,200 Shares

Key Points

• Major shareholder Steven Shaw purchased 2,200 Mastech Digital shares at an average price of $6.33, investing $13,926 and increasing his ownership by 3.83% to 59,700 shares.
• Mastech Digital shares were trading up 2.7% at $6.38, with a market capitalization of approximately $76.6 million and a 52-week range of $5.50 to $8.37.
• Institutional ownership stands at 18.43%, with NewEdge Advisors and Janney Montgomery Scott increasing their stakes and BlackRock establishing a new position.

Mastech Digital, Inc. (NYSE:MHH - Get Free Report) major shareholder Steven Shaw purchased 2,200 shares of the business's stock in a transaction that occurred on Tuesday, October 20th. The stock was acquired at an average price of $6.33 per share, with a total value of $13,926.00. Following the purchase, the insider owned 59,700 shares in the company, valued at $377,901. This represents a 3.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Mastech Digital Trading Up 2.7%

NYSE MHH opened at $6.38 on Wednesday. The stock has a market capitalization of $76.64 million, a price-to-earnings ratio of 22.00, a PEG ratio of 0.79 and a beta of 0.86. Mastech Digital, Inc. has a twelve month low of $5.50 and a twelve month high of $8.37. The stock has a 50-day moving average of $7.21 and a 200 day moving average of $7.15.

Institutional Investors Weigh In On Mastech Digital

Institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC raised its position in 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 period. BlackRock Inc. purchased a new position in Mastech Digital during the second quarter valued at $840,000. Finally, Janney Montgomery Scott LLC lifted its holdings in Mastech Digital by 57.9% during the first quarter. Janney Montgomery Scott LLC now owns 21,278 shares of the company's stock valued at $121,000 after purchasing an additional 7,800 shares in the last quarter. Institutional investors and hedge funds 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.

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