Mastech Digital (NYSE:MHH) Shares Down 2.2% – What’s Next?

Mastech Digital, Inc. (NYSE:MHH)’s stock price traded down 2.2% during mid-day trading on Monday. The company traded as low as $6.19 and last traded at $6.21. 10,862 shares were traded during mid-day trading, a decline of 30% from the average session volume of 15,547 shares. The stock had previously closed at $6.35.

Mastech Digital Trading Up 0.3%

The stock has a market capitalization of $76.88 million, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 0.79 and a beta of 0.86. The company has a 50-day moving average price of $7.21 and a 200 day moving average price of $7.15.

Insider Activity

In other news, major shareholder Steven A. Shaw bought 5,000 shares of the stock in a transaction on Friday, August 21st. The stock was bought at an average cost of $7.47 per share, for a total transaction of $37,350.00. Following the completion of the purchase, the insider directly owned 55,000 shares in the company, valued at approximately $410,850. The trade was a 10.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have purchased 9,700 shares of company stock valued at $67,376. 42.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Mastech Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MHH. BlackRock Inc. acquired a new stake in Mastech Digital in the 2nd quarter worth approximately $840,000. NewEdge Advisors LLC raised its stake in shares of Mastech Digital by 144.9% during the 2nd quarter. NewEdge Advisors LLC now owns 29,695 shares of the company’s stock valued at $230,000 after buying an additional 17,569 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Mastech Digital by 57.9% during the first quarter. Janney Montgomery Scott LLC now owns 21,278 shares of the company’s stock valued at $121,000 after acquiring an additional 7,800 shares in the last quarter. 18.43% of the stock is currently owned by hedge funds and other institutional investors.

Mastech Digital Company Profile

Mastech Digital, Inc is a digital services and information technology staffing company headquartered in Pittsburgh, Pennsylvania. The company helps organizations address technology and workforce needs through digital transformation services and the placement of skilled IT professionals.

Its digital services include data and analytics, cloud and digital engineering, application development, modernization, automation, and related technology consulting. Mastech Digital also provides contract, contract-to-hire, and direct-hire staffing services for areas such as software development, data management, enterprise applications, infrastructure, and other specialized IT functions.

Founded in 1986, the company has served clients across industries including financial services, healthcare, manufacturing, retail, and technology.