Invenomic Capital Management LP Decreases Holdings in Mistras Group, Inc. (NYSE:MG)

Invenomic Capital Management LP cut its holdings in shares of Mistras Group, Inc. (NYSE:MG - Free Report) by 52.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 314,994 shares of the technology company's stock after selling 347,272 shares during the quarter. Invenomic Capital Management LP owned approximately 1.02% of Mistras Group worth $3,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of MG. American Century Companies Inc. grew its holdings in Mistras Group by 27.6% during the 2nd quarter. American Century Companies Inc. now owns 14,536 shares of the technology company's stock valued at $121,000 after buying an additional 3,143 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Mistras Group by 21.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,630 shares of the technology company's stock valued at $212,000 after acquiring an additional 3,327 shares in the last quarter. Rhumbline Advisers increased its holdings in Mistras Group by 12.3% during the 2nd quarter. Rhumbline Advisers now owns 26,250 shares of the technology company's stock worth $218,000 after acquiring an additional 2,884 shares during the period. BNP Paribas Financial Markets lifted its stake in Mistras Group by 516.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,165 shares of the technology company's stock worth $297,000 after purchasing an additional 21,919 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in Mistras Group by 13.0% in the 3rd quarter. GSA Capital Partners LLP now owns 51,797 shares of the technology company's stock valued at $589,000 after purchasing an additional 5,962 shares during the period. Hedge funds and other institutional investors own 74.92% of the company's stock.

Mistras Group Price Performance

Shares of MG traded up $0.18 during mid-day trading on Wednesday, reaching $9.23. 69,910 shares of the stock traded hands, compared to its average volume of 102,689. The company has a current ratio of 1.68, a quick ratio of 1.55 and a debt-to-equity ratio of 0.93. Mistras Group, Inc. has a 1 year low of $6.30 and a 1 year high of $12.44. The company has a market cap of $286.22 million, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 0.82 and a beta of 1.78. The firm has a fifty day moving average price of $10.25 and a 200 day moving average price of $9.82.

Insiders Place Their Bets

In other news, EVP Michael J. Lange sold 12,827 shares of the firm's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $10.79, for a total transaction of $138,403.33. Following the sale, the executive vice president now owns 265,176 shares in the company, valued at approximately $2,861,249.04. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 43,644 shares of company stock worth $478,923 in the last ninety days. 12.30% of the stock is currently owned by insiders.

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.