Credit Suisse AG Raises Position in Mistras Group Inc (MG)

Credit Suisse AG increased its stake in shares of Mistras Group Inc (NYSE:MG) by 11.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 599,867 shares of the technology company’s stock after buying an additional 61,585 shares during the period. Credit Suisse AG’s holdings in Mistras Group were worth $12,999,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MG. Bernzott Capital Advisors lifted its position in Mistras Group by 16.4% during the 2nd quarter. Bernzott Capital Advisors now owns 984,906 shares of the technology company’s stock worth $18,595,000 after buying an additional 139,031 shares in the last quarter. Renaissance Technologies LLC lifted its position in Mistras Group by 81.9% during the 2nd quarter. Renaissance Technologies LLC now owns 286,100 shares of the technology company’s stock worth $5,402,000 after buying an additional 128,800 shares in the last quarter. Citadel Advisors LLC lifted its position in Mistras Group by 474.7% during the 2nd quarter. Citadel Advisors LLC now owns 137,228 shares of the technology company’s stock worth $2,591,000 after buying an additional 113,349 shares in the last quarter. Millennium Management LLC lifted its position in Mistras Group by 145.2% during the 2nd quarter. Millennium Management LLC now owns 178,166 shares of the technology company’s stock worth $3,364,000 after buying an additional 105,503 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA lifted its position in Mistras Group by 10.0% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 921,404 shares of the technology company’s stock worth $17,396,000 after buying an additional 84,024 shares in the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

A number of research analysts have issued reports on MG shares. Zacks Investment Research upgraded shares of Mistras Group from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Friday, August 10th. BMO Capital Markets restated a “buy” rating on shares of Mistras Group in a research report on Friday, November 9th. Canaccord Genuity started coverage on shares of Mistras Group in a research report on Wednesday, November 7th. They set a “hold” rating and a $20.00 target price on the stock. Finally, ValuEngine downgraded shares of Mistras Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $22.33.

Shares of NYSE:MG opened at $15.82 on Friday. The company has a market capitalization of $458.69 million, a P/E ratio of 26.34, a PEG ratio of 1.02 and a beta of 1.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.98 and a current ratio of 2.09. Mistras Group Inc has a fifty-two week low of $15.59 and a fifty-two week high of $23.83.

Mistras Group (NYSE:MG) last announced its quarterly earnings results on Monday, November 5th. The technology company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The firm had revenue of $182.17 million during the quarter, compared to analyst estimates of $181.50 million. Mistras Group had a net margin of 1.17% and a return on equity of 6.42%. On average, analysts forecast that Mistras Group Inc will post 0.63 EPS for the current fiscal year.

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Mistras Group Profile

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 engineering services; and designs, manufactures, sells, installs, and services acoustic emission (AE) sensors, instruments, and turn-key systems used for monitoring and testing materials, pressure components, processes, and structures.

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Institutional Ownership by Quarter for Mistras Group (NYSE:MG)

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