Invenomic Capital Management LP Invests $4.65 Million in Mistras Group Inc $MG

Invenomic Capital Management LP acquired a new stake in Mistras Group Inc (NYSE:MG) in the third quarter, HoldingsChannel reports. The firm acquired 472,536 shares of the technology company’s stock, valued at approximately $4,650,000.

Several other institutional investors and hedge funds have also modified their holdings of MG. Dynamic Technology Lab Private Ltd purchased a new position in shares of Mistras Group during the first quarter valued at approximately $256,000. Empowered Funds LLC grew its stake in Mistras Group by 7.3% in the 1st quarter. Empowered Funds LLC now owns 218,088 shares of the technology company’s stock worth $2,307,000 after acquiring an additional 14,786 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Mistras Group in the 2nd quarter valued at $81,000. Raiffeisen Bank International AG acquired a new position in Mistras Group in the 2nd quarter valued at $431,000. Finally, LSV Asset Management lifted its stake in shares of Mistras Group by 130.8% during the 2nd quarter. LSV Asset Management now owns 51,001 shares of the technology company’s stock worth $409,000 after purchasing an additional 28,901 shares during the period. Hedge funds and other institutional investors own 74.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MG shares. Zacks Research upgraded Mistras Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Mistras Group in a research report on Thursday, January 22nd. Finally, UBS Group set a $16.00 price target on Mistras Group in a research note on Thursday, November 20th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $16.00.

Mistras Group Stock Performance

NYSE:MG opened at $14.61 on Tuesday. The company has a market cap of $461.58 million, a P/E ratio of 27.56, a P/E/G ratio of 0.84 and a beta of 0.86. The firm’s 50 day moving average is $14.45 and its two-hundred day moving average is $12.19. Mistras Group Inc has a fifty-two week low of $7.06 and a fifty-two week high of $15.84. The company has a quick ratio of 1.63, a current ratio of 1.74 and a debt-to-equity ratio of 0.77.

Mistras Group (NYSE:MG) last announced its quarterly earnings data on Wednesday, March 4th. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The company had revenue of $181.46 million during the quarter, compared to analysts’ expectations of $176.27 million. Mistras Group had a net margin of 2.33% and a return on equity of 12.77%. Analysts expect that Mistras Group Inc will post 0.71 EPS for the current year.

About Mistras Group

Mistras Group, Inc is a global provider of technology-enabled asset protection solutions and services, with a primary focus on nondestructive testing (NDT), inspection, and monitoring of critical infrastructure and industrial assets. The company’s offerings span a wide range of techniques—such as ultrasonic testing, eddy current detection, magnetic particle inspection, radiography and acoustic emission—to help clients in energy, petrochemical, aerospace, manufacturing and other sectors identify and address potential failures before they occur.

In addition to traditional NDT services, Mistras delivers engineered materials solutions, including composite repairs and specialty coatings, along with predictive maintenance and condition monitoring programs.