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Should You Buy Mistras Group Inc (MG)?

As aggregate interest increased, specific money managers have jumped into Mistras Group Inc (NYSE:MG) headfirst. Glenn Russell Dubin’s Highbridge Capital Management initiated the biggest position in Mistras Group, Inc. (NYSE:MG). According to its latest 13F filing, the fund had $0.2 million invested in the company at the end of the quarter.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Mistras Group Inc (NYSE:MG) but similarly valued. These stocks are CommerceHub Inc (NASDAQ:CHUBK), TrustCo Bank Corp NY (NASDAQ:TRST), Flushing Financial Corporation (NASDAQ:FFIC), and Civitas Solutions Inc (NYSE:CIVI). This group of stocks’ market valuations match MG’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
CHUBK 22 139171 22
TRST 11 75047 0
FFIC 10 42509 3
CIVI 8 9503 1

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $67 million. That figure was $45 million in MG’s case. CommerceHub Inc (NASDAQ:CHUBK) is the most popular stock in this table. On the other hand Civitas Solutions Inc (NYSE:CIVI) is the least popular one with only 8 bullish hedge fund positions. Mistras Group Inc (NYSE:MG) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CHUBK might be a better candidate to consider taking a long position in.

Disclosure: None

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