Quarry LP Buys New Shares in Matrix Service (NASDAQ:MTRX)

Quarry LP purchased a new stake in Matrix Service (NASDAQ:MTRX) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 4,617 shares of the company’s stock, valued at approximately $53,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Verition Fund Management LLC raised its position in shares of Matrix Service by 5.8% during the third quarter. Verition Fund Management LLC now owns 22,639 shares of the company’s stock worth $261,000 after purchasing an additional 1,239 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in shares of Matrix Service by 2.9% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock valued at $651,000 after purchasing an additional 1,573 shares during the period. Keene & Associates Inc. boosted its position in shares of Matrix Service by 4.3% in the 2nd quarter. Keene & Associates Inc. now owns 54,055 shares of the company’s stock valued at $537,000 after purchasing an additional 2,206 shares during the period. Victory Capital Management Inc. increased its stake in Matrix Service by 4.3% in the 2nd quarter. Victory Capital Management Inc. now owns 69,600 shares of the company’s stock worth $691,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Matrix Service by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,172,616 shares of the company’s stock worth $11,644,000 after buying an additional 3,215 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Matrix Service Price Performance

NASDAQ MTRX opened at $12.62 on Tuesday. The firm has a market capitalization of $347.81 million, a price-to-earnings ratio of -11.27 and a beta of 1.27. The company has a 50 day simple moving average of $12.22 and a 200-day simple moving average of $10.89. Matrix Service has a 52-week low of $8.61 and a 52-week high of $13.90.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. The company had revenue of $165.58 million during the quarter, compared to analysts’ expectations of $183.90 million. During the same quarter in the previous year, the company earned ($0.21) EPS. On average, analysts predict that Matrix Service will post -0.04 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on MTRX. DA Davidson reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Matrix Service in a research note on Thursday, September 26th. StockNews.com raised Matrix Service from a “hold” rating to a “buy” rating in a research report on Tuesday.

About Matrix Service

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.