Insider Buying: Mistras Group Inc (MG) Director Buys 5,000 Shares of Stock

Mistras Group Inc (NYSE:MG) Director Manuel N. Stamatakis purchased 5,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average cost of $14.04 per share, with a total value of $70,200.00. Following the transaction, the director now directly owns 115,286 shares in the company, valued at $1,618,615.44. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

MG traded down $0.17 during trading on Wednesday, hitting $14.16. 70,162 shares of the stock traded hands, compared to its average volume of 85,097. The stock has a market capitalization of $393.88 million, a P/E ratio of 25.75, a PEG ratio of 1.27 and a beta of 1.39. The company has a quick ratio of 1.71, a current ratio of 1.84 and a debt-to-equity ratio of 1.08. Mistras Group Inc has a 12-month low of $12.38 and a 12-month high of $23.60.

Mistras Group (NYSE:MG) last announced its quarterly earnings results on Monday, May 6th. The technology company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.11). The firm had revenue of $176.79 million for the quarter, compared to analysts’ expectations of $183.90 million. Mistras Group had a negative net margin of 0.19% and a positive return on equity of 4.11%. Sell-side analysts expect that Mistras Group Inc will post 0.66 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its position in Mistras Group by 667.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,082 shares of the technology company’s stock valued at $56,000 after acquiring an additional 3,550 shares during the period. Citigroup Inc. grew its stake in shares of Mistras Group by 16.0% in the fourth quarter. Citigroup Inc. now owns 5,605 shares of the technology company’s stock worth $81,000 after acquiring an additional 773 shares during the period. Metropolitan Life Insurance Co. NY grew its stake in shares of Mistras Group by 440.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,186 shares of the technology company’s stock worth $89,000 after acquiring an additional 5,041 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Mistras Group in the fourth quarter worth approximately $185,000. Finally, Mycio Wealth Partners LLC purchased a new position in shares of Mistras Group in the first quarter worth approximately $207,000. 59.25% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on MG shares. TheStreet cut shares of Mistras Group from a “c-” rating to a “d+” rating in a research report on Wednesday, April 3rd. ValuEngine raised shares of Mistras Group from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Canaccord Genuity dropped their price target on shares of Mistras Group from $20.00 to $16.50 and set a “hold” rating for the company in a research report on Thursday, March 14th. Finally, Zacks Investment Research cut shares of Mistras Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Mistras Group currently has an average rating of “Hold” and a consensus price target of $19.75.

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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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