Mistras Group Inc (NYSE:MG) Position Raised by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its position in shares of Mistras Group Inc (NYSE:MG) by 5.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 788,976 shares of the technology company’s stock after buying an additional 38,956 shares during the period. Wedge Capital Management L L P NC owned 2.77% of Mistras Group worth $17,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MG. Engine Capital Management LLC boosted its stake in Mistras Group by 5,323.9% in the first quarter. Engine Capital Management LLC now owns 314,805 shares of the technology company’s stock worth $6,731,000 after buying an additional 309,001 shares during the last quarter. Rockefeller Financial Services Inc. boosted its stake 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 during the last quarter. Broad Run Investment Management LLC boosted its stake in Mistras Group by 6.7% in the first quarter. Broad Run Investment Management LLC now owns 1,550,246 shares of the technology company’s stock worth $33,144,000 after buying an additional 97,886 shares during the last quarter. Vanguard Group Inc. boosted its stake in Mistras Group by 6.7% in the first quarter. Vanguard Group Inc. now owns 1,352,110 shares of the technology company’s stock worth $28,908,000 after buying an additional 85,240 shares during the last quarter. Finally, Suffolk Capital Management LLC bought a new stake in Mistras Group during the first quarter worth $1,549,000. 57.16% of the stock is currently owned by institutional investors and hedge funds.

Mistras Group Inc (NYSE:MG) opened at 18.01 on Monday. Mistras Group Inc has a one year low of $17.66 and a one year high of $26.46. The stock’s 50 day moving average is $21.17 and its 200-day moving average is $21.70. The firm has a market cap of $508.78 million, a price-to-earnings ratio of 38.32 and a beta of 1.15.

Mistras Group (NYSE:MG) last announced its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.07. The firm had revenue of $170.44 million during the quarter, compared to the consensus estimate of $170.16 million. Mistras Group had a return on equity of 7.04% and a net margin of 2.69%. On average, equities research analysts expect that Mistras Group Inc will post $0.48 earnings per share for the current fiscal year.

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MG has been the topic of a number of research reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $47.00 target price on shares of Mistras Group in a research note on Friday, May 12th. Zacks Investment Research cut shares of Mistras Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Robert W. Baird decreased their target price on shares of Mistras Group from $24.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 9th. Finally, Canaccord Genuity decreased their target price on shares of Mistras Group from $22.00 to $20.00 and set a “hold” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $34.40.

In other news, Chairman Sotirios J. Vahaviolos sold 94,877 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $21.08, for a total value of $2,000,007.16. Following the completion of the sale, the chairman now directly owns 10,651,632 shares of the company’s stock, valued at approximately $224,536,402.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Sotirios J. Vahaviolos sold 90,490 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $21.25, for a total transaction of $1,922,912.50. Following the completion of the sale, the chairman now directly owns 10,561,142 shares of the company’s stock, valued at $224,424,267.50. The disclosure for this sale can be found here. In the last three months, insiders sold 279,573 shares of company stock worth $5,922,913. Insiders own 44.70% of the company’s stock.

About Mistras Group

Institutional Ownership by Quarter for Mistras Group (NYSE:MG)

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