Mastech Digital (NYSE:MHH) Stock Price Down 27.7% - Here's Why

Mastech Digital, Inc. (NYSE:MHH - Get Free Report)'s stock price fell 27.7% during mid-day trading on Tuesday . The company traded as low as $13.33 and last traded at $9.79. 14,288 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 17,644 shares. The stock had previously closed at $13.55.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Mastech Digital from a "buy" rating to a "strong-buy" rating in a report on Friday, January 3rd.

Mastech Digital Stock Up 0.4 %

The company has a market cap of $120.01 million, a P/E ratio of 35.24, a PEG ratio of 0.79 and a beta of 0.77. The firm has a fifty day moving average price of $10.19 and a 200 day moving average price of $12.69.

Mastech Digital (NYSE:MHH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.05. Mastech Digital had a net margin of 1.71% and a return on equity of 8.20%. During the same quarter last year, the company posted $0.11 EPS. On average, sell-side analysts anticipate that Mastech Digital, Inc. will post 0.84 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in shares of Mastech Digital by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 238,705 shares of the company's stock valued at $3,557,000 after buying an additional 3,922 shares during the period. Renaissance Technologies LLC raised its holdings in Mastech Digital by 2.4% during the 4th quarter. Renaissance Technologies LLC now owns 111,727 shares of the company's stock worth $1,665,000 after purchasing an additional 2,600 shares during the last quarter. Geode Capital Management LLC lifted its position in Mastech Digital by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 51,384 shares of the company's stock valued at $766,000 after purchasing an additional 3,631 shares during the period. HighTower Advisors LLC boosted its stake in shares of Mastech Digital by 19.5% in the 3rd quarter. HighTower Advisors LLC now owns 41,815 shares of the company's stock valued at $417,000 after purchasing an additional 6,809 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Mastech Digital by 74.3% in the 4th quarter. Northern Trust Corp now owns 25,631 shares of the company's stock valued at $382,000 after purchasing an additional 10,930 shares during the last quarter. Institutional investors own 18.43% of the company's stock.

About Mastech Digital

Mastech Digital, Inc, together with its subsidiaries, provides digital transformation IT services to large, medium-sized, and small companies in the United States. The company operates through Data and Analytics Services and IT Staffing Services segments. It offers data management and analytics services, including project-based consulting services in the areas of master data management, enterprise data integration, big data and analytics, and digital transformation by using onsite and offshore resources.