Mistras Group (MG) Sets New 52-Week Low After Earnings Miss

Mistras Group (MG) Sets New 52-Week Low After Earnings Miss

Mistras Group Inc (NYSE:MG)’s share price hit a new 52-week low on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $12.58 and last traded at $12.70, with a volume of 12497 shares changing hands. The stock had previously closed at $13.81.

The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). Mistras Group had a net margin of 0.92% and a return on equity of 5.43%. The firm had revenue of $176.79 million during the quarter, compared to analyst estimates of $183.90 million.

Several equities analysts recently issued reports on the stock. TheStreet cut shares of Mistras Group from a “c-” rating to a “d+” rating in a research note on Wednesday, April 3rd. Zacks Investment Research cut shares of Mistras Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, Canaccord Genuity decreased their target price on shares of Mistras Group from $20.00 to $16.50 and set a “hold” rating for the company in a research note on Thursday, March 14th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Mistras Group presently has an average rating of “Hold” and an average price target of $19.75.

In related news, Director Nicholas Debenedictis acquired 7,000 shares of Mistras Group stock in a transaction on Monday, March 18th. The stock was bought at an average cost of $13.90 per share, for a total transaction of $97,300.00. Following the completion of the transaction, the director now owns 25,695 shares of the company’s stock, valued at approximately $357,160.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Manuel N. Stamatakis acquired 15,000 shares of Mistras Group stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $13.85 per share, with a total value of $207,750.00. Following the completion of the transaction, the director now directly owns 102,392 shares of the company’s stock, valued at approximately $1,418,129.20. The disclosure for this purchase can be found here. Insiders own 42.40% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Citigroup Inc. raised its position in Mistras Group by 16.0% during 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. Northern Trust Corp raised its position in Mistras Group by 0.4% during the fourth quarter. Northern Trust Corp now owns 225,447 shares of the technology company’s stock worth $3,241,000 after acquiring an additional 981 shares during the period. Algert Global LLC raised its position in Mistras Group by 15.5% during the fourth quarter. Algert Global LLC now owns 20,273 shares of the technology company’s stock worth $292,000 after acquiring an additional 2,718 shares during the period. Lapides Asset Management LLC raised its position in Mistras Group by 11.3% during the first quarter. Lapides Asset Management LLC now owns 29,500 shares of the technology company’s stock worth $407,000 after acquiring an additional 3,000 shares during the period. Finally, Teachers Advisors LLC raised its position in Mistras Group by 5.6% during the third quarter. Teachers Advisors LLC now owns 59,129 shares of the technology company’s stock worth $1,281,000 after acquiring an additional 3,157 shares during the period. Institutional investors own 58.67% of the company’s stock.

The company has a current ratio of 2.02, a quick ratio of 1.89 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $391.87 million, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.25 and a beta of 1.39.

About Mistras Group (NYSE:MG)

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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