Matrix Service (NASDAQ:MTRX) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lessened its stake in shares of Matrix Service (NASDAQ:MTRX) by 12.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 208,359 shares of the company’s stock after selling 29,697 shares during the period. Essex Investment Management Co. LLC owned about 0.76% of Matrix Service worth $2,494,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Matrix Service during the fourth quarter worth $45,000. Quarry LP acquired a new stake in Matrix Service during the 3rd quarter worth about $53,000. BNP Paribas Financial Markets lifted its stake in Matrix Service by 112.9% during the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after buying an additional 4,860 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Matrix Service by 18.4% in the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock worth $133,000 after buying an additional 1,731 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Matrix Service in the third quarter worth about $155,000. 78.38% of the stock is owned by institutional investors.

Matrix Service Trading Down 2.0 %

Shares of NASDAQ MTRX opened at $11.78 on Monday. Matrix Service has a one year low of $8.61 and a one year high of $15.75. The business has a 50-day moving average price of $13.59 and a two-hundred day moving average price of $12.36. The firm has a market capitalization of $325.21 million, a PE ratio of -9.66 and a beta of 1.11.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. Research analysts anticipate that Matrix Service will post -0.26 EPS for the current year.

Analyst Ratings Changes

MTRX has been the subject of several research analyst reports. DA Davidson upped their price target on shares of Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. StockNews.com downgraded shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th.

Matrix Service Profile

Matrix Service Company provides engineering, fabrication, construction, and maintenance services to support critical energy infrastructure and industrial markets in the United States, Canada, and internationally. It operates through three segments: Utility and Power Infrastructure; Process and Industrial Facilities; and Storage and Terminal Solutions.