Mastech Digital (NYSE:MHH) Rating Lowered to “Hold” at StockNews.com

Mastech Digital (NYSE:MHH) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Mastech Digital Price Performance

Shares of MHH stock opened at $7.01 on Wednesday. Mastech Digital has a fifty-two week low of $6.75 and a fifty-two week high of $16.00. The stock’s 50-day moving average is $7.81 and its two-hundred day moving average is $9.40. The firm has a market cap of $82.47 million, a P/E ratio of 24.17, a PEG ratio of 0.79 and a beta of 0.81.

Mastech Digital (NYSE:MHH) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.18 by $0.05. Mastech Digital had a return on equity of 8.20% and a net margin of 1.71%. During the same quarter in the prior year, the firm earned $0.11 EPS. As a group, research analysts expect that Mastech Digital will post 0.84 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Capital Management Corp VA raised its holdings in Mastech Digital by 12.6% during the first quarter. Capital Management Corp VA now owns 772,541 shares of the company’s stock worth $7,888,000 after acquiring an additional 86,290 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Mastech Digital by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 238,705 shares of the company’s stock worth $3,557,000 after purchasing an additional 3,922 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Mastech Digital by 39.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 195,264 shares of the company’s stock valued at $1,994,000 after buying an additional 54,766 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Mastech Digital by 2.4% in the 4th quarter. Renaissance Technologies LLC now owns 111,727 shares of the company’s stock valued at $1,665,000 after buying an additional 2,600 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Mastech Digital by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 51,384 shares of the company’s stock valued at $766,000 after buying an additional 3,631 shares in the last quarter. 18.43% of the stock is currently owned by institutional investors.

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