Short Interest in Mistras Group, Inc. (NYSE:MG) Declines By 24.9%

Mistras Group, Inc. (NYSE:MG) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 55,800 shares, a decline of 24.9% from the August 15th total of 74,300 shares. Based on an average daily volume of 111,900 shares, the short-interest ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are short sold.

Institutional Trading of Mistras Group

Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new stake in shares of Mistras Group during the 4th quarter worth approximately $106,000. Verdad Advisers LP lifted its position in shares of Mistras Group by 12.0% during the fourth quarter. Verdad Advisers LP now owns 112,000 shares of the technology company’s stock worth $820,000 after acquiring an additional 12,000 shares in the last quarter. Mill Road Capital Management LLC boosted its holdings in shares of Mistras Group by 0.6% in the fourth quarter. Mill Road Capital Management LLC now owns 1,514,901 shares of the technology company’s stock worth $11,089,000 after acquiring an additional 9,779 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Mistras Group by 9.0% in the first quarter. Assenagon Asset Management S.A. now owns 70,019 shares of the technology company’s stock valued at $669,000 after purchasing an additional 5,803 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Mistras Group by 8.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 45,150 shares of the technology company’s stock valued at $432,000 after purchasing an additional 3,665 shares during the period. Hedge funds and other institutional investors own 74.92% of the company’s stock.

Mistras Group Stock Up 1.0 %

MG stock opened at $10.77 on Monday. The firm has a market capitalization of $333.51 million, a PE ratio of -28.34 and a beta of 1.72. The stock’s 50 day moving average is $10.32 and its 200-day moving average is $9.31. Mistras Group has a twelve month low of $4.96 and a twelve month high of $12.27. The company has a quick ratio of 1.56, a current ratio of 1.69 and a debt-to-equity ratio of 1.04.

Mistras Group (NYSE:MG) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. Mistras Group had a negative net margin of 0.74% and a positive return on equity of 9.19%. The business had revenue of $189.77 million for the quarter, compared to analysts’ expectations of $188.30 million. Sell-side analysts expect that Mistras Group will post 0.8 EPS for the current fiscal year.

About Mistras Group

Mistras Group, Inc provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets.