Mistras Group Inc (NYSE:MG) Short Interest Up 13.0% in June

Mistras Group Inc (NYSE:MG) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 208,600 shares, an increase of 13.0% from the May 30th total of 184,600 shares. Based on an average trading volume of 80,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.2% of the shares of the company are sold short.

In related news, Director Nicholas Debenedictis purchased 2,495 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average price of $14.03 per share, with a total value of $35,004.85. Following the completion of the purchase, the director now directly owns 47,089 shares in the company, valued at $660,658.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Manuel N. Stamatakis purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average cost of $13.25 per share, with a total value of $66,250.00. Following the purchase, the director now owns 110,286 shares of the company’s stock, valued at $1,461,289.50. The disclosure for this purchase can be found here. In the last three months, insiders bought 26,041 shares of company stock valued at $359,206. 42.40% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in Mistras Group by 181.8% in the 4th quarter. Bank of America Corp DE now owns 168,508 shares of the technology company’s stock worth $2,424,000 after purchasing an additional 108,711 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Mistras Group by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,378,961 shares of the technology company’s stock worth $19,830,000 after acquiring an additional 59,870 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Mistras Group by 231.4% in the first quarter. Wedge Capital Management L L P NC now owns 76,464 shares of the technology company’s stock worth $1,056,000 after acquiring an additional 53,392 shares during the period. Rutabaga Capital Management LLC MA boosted its stake in shares of Mistras Group by 7.5% in the first quarter. Rutabaga Capital Management LLC MA now owns 728,619 shares of the technology company’s stock worth $10,062,000 after acquiring an additional 50,950 shares during the period. Finally, Great Lakes Advisors LLC boosted its stake in shares of Mistras Group by 20.0% in the first quarter. Great Lakes Advisors LLC now owns 214,578 shares of the technology company’s stock worth $2,963,000 after acquiring an additional 35,811 shares during the period. 58.97% of the stock is owned by hedge funds and other institutional investors.

NYSE MG traded up $0.03 during trading on Monday, hitting $14.94. 37,500 shares of the company’s stock were exchanged, compared to its average volume of 83,054. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.71 and a current ratio of 1.84. The stock has a market capitalization of $426.03 million, a P/E ratio of 27.16, a PEG ratio of 1.38 and a beta of 1.23. Mistras Group has a fifty-two week low of $12.38 and a fifty-two week high of $23.60. The firm’s 50 day moving average price is $14.20.

Mistras Group (NYSE:MG) last issued its earnings results on Monday, May 6th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). Mistras Group had a positive return on equity of 4.11% and a negative net margin of 0.19%. The firm had revenue of $176.79 million during the quarter, compared to the consensus estimate of $183.90 million. On average, equities analysts predict that Mistras Group will post 0.66 earnings per share for the current year.

A number of research firms recently commented on MG. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. Credit Suisse Group reaffirmed an “outperform” rating and issued a GBX 1,206 ($15.76) price target on shares of in a research note on Thursday, June 27th. ValuEngine raised Vermillion from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Finally, TheStreet raised Stitch Fix from a “d” rating to a “c-” rating in a research note on Wednesday, June 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $31.50.

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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