Mastech Digital (NYSE:MHH) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Mastech Digital (NYSE:MHH) in a research report sent to investors on Saturday. The brokerage issued a buy rating on the stock.

Mastech Digital Price Performance

Shares of NYSE MHH opened at $9.63 on Friday. The firm has a market cap of $112.04 million, a P/E ratio of -14.82, a P/E/G ratio of 1.78 and a beta of 0.47. The business’s 50 day moving average price is $9.36. Mastech Digital has a 1 year low of $7.15 and a 1 year high of $11.00.

Mastech Digital (NYSE:MHH) last posted its earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11. Mastech Digital had a positive return on equity of 3.00% and a negative net margin of 3.92%. The company had revenue of $49.53 million during the quarter, compared to analysts’ expectations of $48.10 million. As a group, equities research analysts forecast that Mastech Digital will post 0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mastech Digital

Institutional investors have recently made changes to their positions in the stock. Access Investment Management LLC acquired a new position in shares of Mastech Digital in the 4th quarter worth approximately $1,042,000. Dimensional Fund Advisors LP raised its position in Mastech Digital by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 227,350 shares of the company’s stock valued at $1,705,000 after purchasing an additional 5,236 shares during the period. Finally, Capital Management Corp VA lifted its stake in Mastech Digital by 0.5% during the first quarter. Capital Management Corp VA now owns 866,370 shares of the company’s stock worth $7,797,000 after purchasing an additional 4,180 shares in the last quarter. 18.43% of the stock is currently owned by institutional investors and hedge funds.

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. It operates through two segments, Data and Analytics Services, and IT Staffing Services. The company 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.