Mistras Group, Inc. (NYSE:MG) Sees Significant Growth in Short Interest

Mistras Group, Inc. (NYSE:MG - Get Free Report) saw a significant 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. Currently, 1.2% of the company's shares are sold short. Based on an average trading volume of 141,100 shares, the days-to-cover ratio is currently 1.5 days.

Mistras Group Stock Performance

NYSE:MG traded down $0.31 during trading hours on Monday, reaching $9.02. The company had a trading volume of 272,001 shares, compared to its average volume of 123,624. The firm has a market cap of $279.75 million, a price-to-earnings ratio of 25.76, a PEG ratio of 0.73 and a beta of 1.34. The company has a current ratio of 1.68, a quick ratio of 1.55 and a debt-to-equity ratio of 0.93. The firm's 50 day moving average price is $10.05 and its 200-day moving average price is $9.91. Mistras Group has a 52 week low of $7.45 and a 52 week high of $12.44.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Nicholas Debenedictis acquired 10,000 shares of the stock in a transaction on Tuesday, March 18th. The stock was acquired at an average cost of $9.84 per share, for a total transaction of $98,400.00. Following the completion of 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.30% of the stock is currently owned by insiders.

Institutional Trading of Mistras Group

Several large investors have recently modified their holdings of MG. Mill Road Capital Management LLC boosted its position in Mistras Group by 7.8% in the fourth quarter. Mill Road Capital Management LLC now owns 1,724,482 shares of the technology company's stock worth $15,624,000 after purchasing an additional 125,337 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Mistras Group by 7.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,461,339 shares of the technology company's stock worth $13,240,000 after purchasing an additional 102,665 shares during the period. Royce & Associates LP boosted 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 worth $13,064,000 after buying an additional 124,270 shares during the last quarter. Geode Capital Management LLC grew its position in Mistras Group by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 455,532 shares of the technology company's stock valued at $4,128,000 after buying an additional 2,143 shares during the period. Finally, Bridgeway Capital Management LLC increased its holdings in Mistras Group by 1.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 420,552 shares of the technology company's stock valued at $3,810,000 after buying an additional 6,188 shares during the last quarter. Institutional investors own 74.92% of the company's stock.

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.