Renaissance Technologies LLC Has $1.78 Million Stock Holdings in Mistras Group Inc $MG

Renaissance Technologies LLC trimmed its stake in Mistras Group Inc (NYSE:MG) by 40.2% in the first quarter, Holdings Channel reports. The firm owned 120,500 shares of the technology company’s stock after selling 81,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Mistras Group were worth $1,781,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MG. Torren Management LLC acquired a new stake in shares of Mistras Group in the 4th quarter valued at approximately $28,000. BNP Paribas Financial Markets increased its holdings in Mistras Group by 22.5% during the third quarter. BNP Paribas Financial Markets now owns 7,417 shares of the technology company’s stock worth $73,000 after buying an additional 1,360 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in Mistras Group during the fourth quarter worth $74,000. MetLife Investment Management LLC raised its position in Mistras Group by 17.8% during the fourth quarter. MetLife Investment Management LLC now owns 7,035 shares of the technology company’s stock worth $89,000 after acquiring an additional 1,065 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in Mistras Group by 18.2% in the second quarter. Raymond James Financial Inc. now owns 14,173 shares of the technology company’s stock valued at $114,000 after acquiring an additional 2,183 shares during the last quarter. Institutional investors own 74.92% of the company’s stock.

Analyst Upgrades and Downgrades

MG has been the subject of a number of analyst reports. Roth Capital assumed coverage on shares of Mistras Group in a research report on Thursday, April 30th. They issued a “buy” rating and a $22.00 price objective for the company. Zacks Research cut shares of Mistras Group from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Mistras Group in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded Mistras Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.00.

Mistras Group Stock Up 18.1%

MG opened at $18.64 on Wednesday. The stock’s fifty day simple moving average is $16.97 and its 200 day simple moving average is $16.29. Mistras Group Inc has a 1-year low of $8.93 and a 1-year high of $19.64. The stock has a market cap of $593.25 million, a PE ratio of 22.46, a price-to-earnings-growth ratio of 0.94 and a beta of 0.89. The company has a current ratio of 1.81, a quick ratio of 1.67 and a debt-to-equity ratio of 0.80.

Mistras Group (NYSE:MG) last released its quarterly earnings data on Monday, August 10th. The technology company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Mistras Group had a net margin of 3.65% and a return on equity of 14.79%. The firm had revenue of $193.13 million during the quarter, compared to analysts’ expectations of $189.66 million. As a group, research analysts expect that Mistras Group Inc will post 1.05 earnings per share for the current year.

Mistras Group Company Profile

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.