Mistras Group (NYSE:MG) announced its quarterly earnings results on Monday. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11), Morningstar.com reports. The firm had revenue of $182.17 million during the quarter, compared to analysts’ expectations of $181.50 million. Mistras Group had a net margin of 0.38% and a return on equity of 6.34%. Mistras Group updated its FY 2018 guidance to EPS.
Mistras Group stock traded down $2.15 during midday trading on Tuesday, reaching $17.15. The company had a trading volume of 3,386 shares, compared to its average volume of 57,530. The firm has a market capitalization of $553.61 million, a PE ratio of 40.01, a P/E/G ratio of 0.75 and a beta of 1.31. Mistras Group has a 12-month low of $17.78 and a 12-month high of $23.83. The company has a current ratio of 2.14, a quick ratio of 2.01 and a debt-to-equity ratio of 0.57.
A number of analysts recently issued reports on the company. ValuEngine upgraded Mistras Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded Mistras Group from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $23.00.
In related news, insider Sotirios J. Vahaviolos sold 321,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $21.92, for a total value of $7,036,320.00. Following the transaction, the insider now directly owns 10,244,313 shares of the company’s stock, valued at approximately $224,555,340.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 43.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ramsey Quantitative Systems acquired a new stake in shares of Mistras Group during the 3rd quarter worth approximately $158,000. We Are One Seven LLC acquired a new stake in Mistras Group in the 3rd quarter valued at approximately $217,000. Atria Investments LLC acquired a new stake in Mistras Group in the 2nd quarter valued at approximately $196,000. Engineers Gate Manager LP acquired a new stake in Mistras Group in the 2nd quarter valued at approximately $215,000. Finally, Cubist Systematic Strategies LLC increased its holdings in Mistras Group by 46.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 12,058 shares of the technology company’s stock valued at $228,000 after purchasing an additional 3,824 shares during the last quarter. Institutional investors and hedge funds own 59.06% of the company’s stock.
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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 engineering services; and designs, manufactures, sells, installs, and services acoustic emission (AE) sensors, instruments, and turn-key systems used for monitoring and testing materials, pressure components, processes, and structures.
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