Mistras Group Inc (MG) Downgraded by Goldman Sachs Group, Inc. (The) to Sell

Goldman Sachs Group, Inc. (The) cut shares of Mistras Group Inc (NYSE:MG) from a neutral rating to a sell rating in a research report released on Monday morning. Goldman Sachs Group, Inc. (The) currently has $41.00 target price on the technology company’s stock, down from their previous target price of $45.00.

Other equities analysts also recently issued research reports about the stock. KeyCorp reiterated a hold rating on shares of Mistras Group in a research note on Friday, August 25th. Canaccord Genuity lowered their target price on shares of Mistras Group from $22.00 to $20.00 and set a hold rating for the company in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Mistras Group from a sell rating to a hold rating in a research note on Wednesday, July 12th. Robert W. Baird downgraded shares of Mistras Group from an outperform rating to a neutral rating and boosted their target price for the stock from $21.00 to $22.00 in a research note on Monday, October 2nd. Finally, BidaskClub downgraded shares of Mistras Group from a hold rating to a sell rating in a research note on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Mistras Group has an average rating of Hold and a consensus price target of $36.00.

Mistras Group (MG) traded down 0.29% during mid-day trading on Monday, hitting $20.66. The stock had a trading volume of 3,663 shares. The firm has a 50-day moving average of $20.35 and a 200-day moving average of $20.87. Mistras Group has a 52-week low of $17.00 and a 52-week high of $26.46. The stock has a market cap of $583.64 million, a P/E ratio of 43.96 and a beta of 1.17.

Mistras Group (NYSE:MG) last issued its earnings results on Tuesday, August 8th. The technology company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The firm had revenue of $170.44 million for the quarter, compared to analyst estimates of $170.16 million. Mistras Group had a return on equity of 7.04% and a net margin of 2.69%. On average, analysts forecast that Mistras Group will post $0.49 EPS for the current fiscal year.

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In other Mistras Group news, EVP Michael C. Keefe sold 4,462 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $18.05, for a total value of $80,539.10. Following the completion of the transaction, the executive vice president now owns 47,223 shares in the company, valued at $852,375.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Sotirios J. Vahaviolos sold 90,490 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $21.25, for a total transaction of $1,922,912.50. Following the completion of the transaction, the chairman now owns 10,561,142 shares of the company’s stock, valued at approximately $224,424,267.50. The disclosure for this sale can be found here. Corporate insiders own 44.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. boosted its stake in Mistras Group by 964.9% in the second quarter. Citigroup Inc. now owns 4,728 shares of the technology company’s stock valued at $104,000 after acquiring an additional 4,284 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Mistras Group by 66.6% in the first quarter. Victory Capital Management Inc. now owns 4,955 shares of the technology company’s stock valued at $106,000 after acquiring an additional 1,981 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Mistras Group in the second quarter valued at $199,000. California Public Employees Retirement System acquired a new position in Mistras Group in the second quarter valued at $204,000. Finally, American International Group Inc. boosted its stake in Mistras Group by 7.0% in the first quarter. American International Group Inc. now owns 10,557 shares of the technology company’s stock valued at $226,000 after acquiring an additional 694 shares in the last quarter. Institutional investors own 60.60% of the company’s stock.

About Mistras Group

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