Mistras Group Sees Unusually High Options Volume (NYSE:MG)

Key Points

• Put-option activity surged: Traders purchased 6,248 Mistras Group put options, roughly 1,675% above the typical daily volume of 352 contracts.
• Shares rose 5.1% to $20.86 on unusually heavy trading volume, while the company’s latest quarterly results exceeded analyst expectations for both earnings and revenue.
• Analyst sentiment remains cautious, with an average “Hold” rating and a $19.00 consensus price target; institutional investors and hedge funds own 74.92% of the stock.

Mistras Group Inc (NYSE:MG - Get Free Report) was the target of unusually large options trading on Friday. Stock traders acquired 6,248 put options on the company. This represents an increase of approximately 1,675% compared to the typical daily volume of 352 put options.

Mistras Group Stock Up 5.1%

Shares of MG stock traded up $1.02 during mid-day trading on Friday, hitting $20.86. 1,295,894 shares of the stock traded hands, compared to its average volume of 198,623. Mistras Group has a 52-week low of $9.37 and a 52-week high of $21.32. The stock has a market cap of $664.39 million, a P/E ratio of 25.17, a P/E/G ratio of 1.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.71 and a quick ratio of 1.58. The stock's fifty day moving average is $17.55 and its two-hundred day moving average is $17.14.

Mistras Group (NYSE:MG - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. The business had revenue of $193.13 million for the quarter, compared to the consensus estimate of $189.66 million. Mistras Group had a return on equity of 14.66% and a net margin of 3.65%. Equities analysts predict that Mistras Group will post 1.04 EPS for the current year.

Hedge Funds Weigh In On Mistras Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new stake in Mistras Group in the second quarter valued at about $296,000. Empowered Funds LLC acquired a new position in Mistras Group in the second quarter worth about $3,939,000. Equitable Holdings Inc. bought a new position in Mistras Group during the 2nd quarter worth approximately $1,510,000. Public Employees Retirement System of Ohio acquired a new position in shares of Mistras Group in the 2nd quarter worth approximately $227,000. Finally, Bank of America Corp DE bought a new stake in shares of Mistras Group in the 2nd quarter valued at approximately $249,000. 74.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MG has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Mistras Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Weiss Ratings downgraded shares of Mistras Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $19.00.

About Mistras Group

Mistras Group, Inc NYSE: MG is an asset protection and industrial inspection company that helps organizations monitor the condition, safety and performance of critical infrastructure. Its services are designed to identify defects, prevent equipment failures and support regulatory compliance across industrial and infrastructure assets.

The company provides nondestructive testing and inspection, engineering and consulting, mechanical integrity programs, asset monitoring and data-management services.

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