Mistras Group, Inc. (NYSE:MG) Short Interest Up 21.6% in March

Mistras Group, Inc. (NYSE:MG) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 217,600 shares, a growth of 21.6% from the February 28th total of 178,900 shares. Based on an average daily trading volume, of 141,100 shares, the days-to-cover ratio is presently 1.5 days. Approximately 1.2% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Mistras Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 11th.

Insider Transactions at Mistras Group

In other news, Director Nicholas Debenedictis purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was bought at an average price of $9.84 per share, with a total value of $98,400.00. Following the acquisition, the director now directly owns 217,511 shares of the company’s stock, valued at approximately $2,140,308.24. This represents a 4.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Mistras Group

Several large investors have recently made changes to their positions in MG. Mill Road Capital Management LLC lifted its position in Mistras Group by 7.8% in the 4th quarter. Mill Road Capital Management LLC now owns 1,724,482 shares of the technology company’s stock valued at $15,624,000 after acquiring an additional 125,337 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Mistras Group by 9.4% in the fourth quarter. Royce & Associates LP now owns 1,441,967 shares of the technology company’s stock valued at $13,064,000 after purchasing an additional 124,270 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Mistras Group by 225.6% during the fourth quarter. Ameriprise Financial Inc. now owns 160,087 shares of the technology company’s stock worth $1,450,000 after buying an additional 110,916 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Mistras Group by 7.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,461,339 shares of the technology company’s stock worth $13,240,000 after buying an additional 102,665 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Mistras Group by 76.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 219,075 shares of the technology company’s stock worth $1,985,000 after buying an additional 94,984 shares in the last quarter. Institutional investors own 74.92% of the company’s stock.

Mistras Group Stock Down 3.8 %

Shares of MG traded down $0.40 on Thursday, hitting $9.99. The company’s stock had a trading volume of 75,091 shares, compared to its average volume of 121,121. The firm’s fifty day moving average price is $10.06 and its 200-day moving average price is $9.93. Mistras Group has a fifty-two week low of $7.45 and a fifty-two week high of $12.44. The company has a quick ratio of 1.55, a current ratio of 1.68 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $310.13 million, a price-to-earnings ratio of 28.53, a P/E/G ratio of 0.73 and a beta of 1.67.

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.