Mastech Digital (NYSE:MHH) Stock Falls 0.7% – Should You Sell?

Mastech Digital, Inc. (NYSE:MHH) dropped 0.7% on Monday. The stock traded as low as $7.26 and last traded at $7.30. Approximately 1,254 shares changed hands during trading, a decline of 92% from the average daily volume of 16,162 shares. The stock had previously closed at $7.35.

Mastech Digital Trading Down 0.7%

The business has a 50 day simple moving average of $7.56 and a 200-day simple moving average of $7.06. The stock has a market capitalization of $87.69 million, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84.

Insider Buying and Selling

In related news, major shareholder Steven A. Shaw purchased 5,000 shares of the business’s stock in a transaction on Friday, August 21st. The shares were bought at an average price of $7.47 per share, with a total value 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. This trade represents a 10.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 42.90% of the company’s stock.

Hedge Funds Weigh In On Mastech Digital

A number of hedge funds have recently made changes to their positions in MHH. NewEdge Advisors LLC grew 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 period. BlackRock Inc. purchased a new position in shares of Mastech Digital in the 2nd quarter worth $840,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Mastech Digital by 57.9% in 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 during the last quarter. Institutional investors and hedge funds own 18.43% of the company’s stock.

Mastech Digital Company Profile

Mastech Digital, Inc is a technology services company that provides digital transformation and information technology staffing solutions. Its services support organizations seeking to modernize applications, manage and analyze data, adopt cloud technologies, and develop digital products and platforms.

The company’s digital services have included data management, data engineering, analytics, artificial intelligence and machine learning, cloud services, application development, quality assurance, and related consulting.