Mastech Digital, Inc. (NYSE:MHH) Sees Significant Decrease in Short Interest

Mastech Digital, Inc. (NYSE:MHH) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 18,200 shares, a decrease of 27.5% from the September 30th total of 25,100 shares. Based on an average daily volume of 9,100 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.5% of the company’s shares are sold short. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 9,100 shares, the days-to-cover ratio is presently 2.0 days.

Insider Activity

In other Mastech Digital news, major shareholder Steven A. Shaw acquired 4,537 shares of the stock in a transaction dated Friday, September 19th. The stock was acquired at an average price of $7.76 per share, with a total value of $35,207.12. Following the completion of the transaction, the insider directly owned 1,336,105 shares in the company, valued at approximately $10,368,174.80. This trade represents a 0.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders acquired a total of 12,837 shares of company stock worth $100,551 in the last 90 days. 43.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mastech Digital

Several large investors have recently added to or reduced their stakes in MHH. Cetera Investment Advisers raised its holdings in shares of Mastech Digital by 18.8% in the 2nd quarter. Cetera Investment Advisers now owns 25,107 shares of the company’s stock worth $180,000 after purchasing an additional 3,975 shares during the period. Access Investment Management LLC purchased a new position in shares of Mastech Digital in the 2nd quarter worth about $859,000. James Investment Research Inc. purchased a new position in shares of Mastech Digital in the 2nd quarter worth about $87,000. Capital Management Corp VA raised its holdings in shares of Mastech Digital by 14.1% in the 2nd quarter. Capital Management Corp VA now owns 881,578 shares of the company’s stock worth $6,321,000 after purchasing an additional 109,037 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Mastech Digital by 17.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 16,500 shares of the company’s stock worth $118,000 after purchasing an additional 2,500 shares during the period. 18.43% of the stock is currently owned by hedge funds and other institutional investors.

Mastech Digital Stock Performance

NYSE MHH traded down $0.06 during trading hours on Tuesday, hitting $7.09. 7,396 shares of the company’s stock were exchanged, compared to its average volume of 17,164. The business’s 50 day moving average is $7.43 and its 200-day moving average is $7.25. Mastech Digital has a 12-month low of $6.20 and a 12-month high of $16.00. The firm has a market capitalization of $83.55 million, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 0.79 and a beta of 0.88.

About Mastech Digital

Mastech Digital, Inc, together with its subsidiaries, provides digital transformation IT services to large, medium-sized, and small companies in the United States. The company operates through Data and Analytics Services and IT Staffing Services segments. It offers data management and analytics services, including project-based consulting services in the areas of master data management, enterprise data integration, big data and analytics, and digital transformation by using onsite and offshore resources.