Wells Fargo & Company MN lowered its position in Mistras Group Inc (NYSE:MG) by 56.4% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 14,359 shares of the technology company’s stock after selling 18,590 shares during the period. Wells Fargo & Company MN owned approximately 0.05% of Mistras Group worth $307,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Rockefeller Financial Services Inc. boosted its position in Mistras Group by 23.3% in the first quarter. Rockefeller Financial Services Inc. now owns 781,248 shares of the technology company’s stock worth $16,703,000 after buying an additional 147,429 shares in the last quarter. Renaissance Technologies LLC boosted its position in Mistras Group by 32.9% in the fourth quarter. Renaissance Technologies LLC now owns 346,500 shares of the technology company’s stock worth $8,898,000 after buying an additional 85,700 shares in the last quarter. Capital Impact Advisors LLC boosted its position in Mistras Group by 102.5% in the first quarter. Capital Impact Advisors LLC now owns 78,738 shares of the technology company’s stock worth $1,683,000 after buying an additional 39,850 shares in the last quarter. Philadelphia Trust Co. boosted its position in Mistras Group by 184.1% in the fourth quarter. Philadelphia Trust Co. now owns 55,400 shares of the technology company’s stock worth $1,423,000 after buying an additional 35,900 shares in the last quarter. Finally, Comerica Bank bought a new position in Mistras Group during the fourth quarter worth about $794,000. Institutional investors and hedge funds own 57.38% of the company’s stock.
Shares of Mistras Group Inc (NYSE:MG) opened at 22.03 on Tuesday. Mistras Group Inc has a 12-month low of $19.49 and a 12-month high of $26.46. The company has a market capitalization of $627.59 million, a price-to-earnings ratio of 44.15 and a beta of 1.16. The firm’s 50-day moving average is $21.39 and its 200-day moving average is $22.46.
Mistras Group (NYSE:MG) last announced its earnings results on Monday, May 8th. The technology company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $163.32 million for the quarter, compared to the consensus estimate of $160.09 million. Mistras Group had a net margin of 2.71% and a return on equity of 8.50%. On average, equities analysts predict that Mistras Group Inc will post $0.71 EPS for the current year.
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MG has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Mistras Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. BMO Capital Markets reiterated a “market perform” rating and set a $47.00 price objective on shares of Mistras Group in a research report on Friday, May 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Mistras Group has a consensus rating of “Hold” and a consensus price target of $37.43.
In other Mistras Group news, Chairman Sotirios J. Vahaviolos sold 94,877 shares of Mistras Group stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $21.08, for a total transaction of $2,000,007.16. Following the transaction, the chairman now directly owns 10,651,632 shares of the company’s stock, valued at $224,536,402.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael C. Keefe sold 8,004 shares of Mistras Group stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $21.18, for a total transaction of $169,524.72. Following the transaction, the executive vice president now directly owns 49,756 shares in the company, valued at $1,053,832.08. The disclosure for this sale can be found here. Insiders have sold 197,087 shares of company stock worth $4,169,525 over the last three months. Insiders own 45.60% of the company’s stock.
About Mistras Group
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