Mistras Group (NYSE:MG) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Mistras Group's stock price has recently crossed above its two hundred day moving average, trading as high as $9.79 compared to the average of $8.74.
• Analysts currently hold an average rating of "Hold" for Mistras Group, with one upgrade to a "Buy" rating by Wall Street Zen.
• Insider buying has occurred, with EVP Eileen Mary Coggins acquiring 15,000 shares at an average price of $9.55, increasing their ownership position substantially.

Mistras Group Inc (NYSE:MG - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.74 and traded as high as $9.79. Mistras Group shares last traded at $9.69, with a volume of 82,933 shares.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Mistras Group in a research note on Wednesday, October 8th. Wall Street Zen upgraded Mistras Group from a "hold" rating to a "buy" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Mistras Group presently has an average rating of "Hold".

Mistras Group Stock Performance

The stock has a market cap of $305.62 million, a price-to-earnings ratio of 26.19, a PEG ratio of 0.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.66 and a quick ratio of 1.54. The firm has a fifty day moving average of $9.54 and a 200 day moving average of $8.74.

Mistras Group (NYSE:MG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $185.41 million for the quarter, compared to analyst estimates of $186.43 million. Mistras Group had a return on equity of 9.37% and a net margin of 1.64%. As a group, sell-side analysts forecast that Mistras Group Inc will post 0.71 EPS for the current year.

Insider Buying and Selling at Mistras Group

In other news, EVP Eileen Mary Coggins acquired 15,000 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was purchased at an average price of $9.55 per share, with a total value of $143,250.00. Following the completion of the acquisition, the executive vice president owned 15,000 shares of the company's stock, valued at $143,250. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.80% of the company's stock.

Institutional Trading of Mistras Group

Hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new stake in shares of Mistras Group in the 2nd quarter valued at approximately $781,000. Evergreen Capital Management LLC purchased a new position in Mistras Group in the second quarter worth approximately $136,000. Bridgeway Capital Management LLC grew its position in Mistras Group by 2.8% in the second quarter. Bridgeway Capital Management LLC now owns 418,737 shares of the technology company's stock worth $3,354,000 after acquiring an additional 11,599 shares during the period. Bank of America Corp DE increased its stake in Mistras Group by 49.1% during the second quarter. Bank of America Corp DE now owns 22,644 shares of the technology company's stock worth $181,000 after acquiring an additional 7,452 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Mistras Group by 3.9% in the second quarter. Ameriprise Financial Inc. now owns 167,948 shares of the technology company's stock valued at $1,345,000 after purchasing an additional 6,275 shares during the period. Hedge funds and other institutional investors own 74.92% of the company's stock.

About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.

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