Mistras Group Inc (NYSE:MG) Sees Significant Growth in Short Interest

Mistras Group Inc (NYSE:MG) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 131,300 shares, a growth of 6.6% from the September 30th total of 123,200 shares. Based on an average daily volume of 113,200 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.8% of the company’s stock are short sold.

NYSE:MG traded down $0.29 during mid-day trading on Friday, reaching $13.33. 57,775 shares of the company’s stock were exchanged, compared to its average volume of 109,182. Mistras Group has a one year low of $12.19 and a one year high of $17.57. The firm has a market capitalization of $401.92 million, a PE ratio of 24.24, a price-to-earnings-growth ratio of 3.65 and a beta of 1.25. The business’s fifty day simple moving average is $14.72 and its two-hundred day simple moving average is $14.66. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.61 and a current ratio of 1.73.

Mistras Group (NYSE:MG) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.10). The firm had revenue of $192.19 million for the quarter, compared to analyst estimates of $195.10 million. Mistras Group had a return on equity of 3.76% and a net margin of 0.56%. As a group, equities research analysts forecast that Mistras Group will post 0.35 EPS for the current year.

MG has been the subject of a number of recent analyst reports. ValuEngine cut shares of Mistras Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Zacks Investment Research cut shares of Mistras Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Maxim Group initiated coverage on shares of Mistras Group in a research note on Thursday, October 31st. They issued a “buy” rating and a $21.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $27.13.

In other Mistras Group news, Director Manuel N. Stamatakis bought 5,000 shares of Mistras Group stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $14.60 per share, for a total transaction of $73,000.00. Following the completion of the acquisition, the director now owns 122,718 shares of the company’s stock, valued at approximately $1,791,682.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 42.40% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of MG. SG Americas Securities LLC acquired a new stake in Mistras Group during the 2nd quarter worth approximately $103,000. CHICAGO TRUST Co NA acquired a new stake in Mistras Group during the 2nd quarter worth approximately $145,000. Prudential Financial Inc. boosted its position in Mistras Group by 9.0% during the 2nd quarter. Prudential Financial Inc. now owns 10,919 shares of the technology company’s stock worth $157,000 after buying an additional 900 shares during the period. California Public Employees Retirement System boosted its position in Mistras Group by 29.1% during the 3rd quarter. California Public Employees Retirement System now owns 15,323 shares of the technology company’s stock worth $251,000 after buying an additional 3,457 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Mistras Group during the 3rd quarter worth approximately $279,000. Institutional investors own 58.48% of the company’s stock.

About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions worldwide. The company operates through three segments: Services, International, and Products and Systems. It offers traditional non-destructive testing, and inspection and testing program services; and engineering consulting services.

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