Truist Financial Corp Sells 315,452 Shares of Mistras Group, Inc. (NYSE:MG)

Truist Financial Corp trimmed its stake in Mistras Group, Inc. (NYSE:MGGet Rating) by 78.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,354 shares of the technology company’s stock after selling 315,452 shares during the period. Truist Financial Corp owned approximately 0.29% of Mistras Group worth $390,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Lapides Asset Management LLC lifted its stake in shares of Mistras Group by 24.1% in the 2nd quarter. Lapides Asset Management LLC now owns 486,800 shares of the technology company’s stock valued at $2,892,000 after purchasing an additional 94,400 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Mistras Group by 34.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 27,156 shares of the technology company’s stock valued at $180,000 after purchasing an additional 6,989 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Mistras Group by 39.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 23,698 shares of the technology company’s stock valued at $106,000 after purchasing an additional 6,673 shares during the last quarter. Red Cedar Capital LLC lifted its stake in shares of Mistras Group by 0.6% in the 3rd quarter. Red Cedar Capital LLC now owns 394,411 shares of the technology company’s stock valued at $1,759,000 after purchasing an additional 2,407 shares during the last quarter. Finally, Foundry Partners LLC lifted its stake in shares of Mistras Group by 1.5% during the 3rd quarter. Foundry Partners LLC now owns 270,425 shares of the technology company’s stock worth $1,206,000 after acquiring an additional 3,950 shares during the last quarter. 48.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MG shares. StockNews.com raised Mistras Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 16th. TheStreet lowered Mistras Group from a “c-” rating to a “d” rating in a research note on Thursday, November 3rd.

Mistras Group Price Performance

Shares of MG stock opened at $5.20 on Wednesday. Mistras Group, Inc. has a 52-week low of $3.38 and a 52-week high of $7.27. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.50 and a current ratio of 1.62. The firm has a market capitalization of $155.45 million, a P/E ratio of 47.27 and a beta of 1.46. The stock has a 50 day moving average price of $4.64 and a 200 day moving average price of $5.06.

Mistras Group (NYSE:MGGet Rating) last issued its earnings results on Wednesday, November 2nd. The technology company reported $0.16 earnings per share for the quarter. The business had revenue of $178.46 million during the quarter. Mistras Group had a return on equity of 2.50% and a net margin of 0.52%.

Mistras Group Profile

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MISTRAS Group, Inc engages in the provision of technology-enabled asset protection solutions. The firm serves the oil and gas, aerospace, power, infrastructure, and manufacturing markets. It operates through the following segments: Services, International Offers Services, and Products and Systems. The Services segment provides asset protection solutions primarily in North America, consisting primarily of non-destructive testing, inspection, mechanical, and engineering services.

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

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