Nancy Austin Sells 4,193 Shares of Matrix Service (NASDAQ:MTRX) Stock

Matrix Service Company (NASDAQ:MTRX) VP Nancy Austin sold 4,193 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $11.29, for a total transaction of $47,338.97. Following the completion of the sale, the vice president owned 106,138 shares in the company, valued at approximately $1,198,298.02. This trade represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Matrix Service Stock Performance

MTRX stock opened at $11.09 on Friday. The firm has a 50 day moving average price of $12.47 and a 200-day moving average price of $13.03. Matrix Service Company has a 52-week low of $9.33 and a 52-week high of $16.10. The firm has a market capitalization of $311.96 million, a price-to-earnings ratio of -16.31, a PEG ratio of 2.42 and a beta of 0.95.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, February 4th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). Matrix Service had a negative net margin of 2.30% and a negative return on equity of 8.56%. The company had revenue of $210.51 million for the quarter, compared to the consensus estimate of $215.42 million. As a group, sell-side analysts forecast that Matrix Service Company will post -0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in shares of Matrix Service by 601.5% in the 1st quarter. AQR Capital Management LLC now owns 291,804 shares of the company’s stock worth $3,627,000 after purchasing an additional 250,206 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Matrix Service by 53.5% during the first quarter. Goldman Sachs Group Inc. now owns 175,736 shares of the company’s stock valued at $2,184,000 after purchasing an additional 61,246 shares in the last quarter. Jane Street Group LLC grew its holdings in Matrix Service by 89.8% during the first quarter. Jane Street Group LLC now owns 34,542 shares of the company’s stock valued at $429,000 after purchasing an additional 16,343 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Matrix Service in the second quarter worth about $183,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Matrix Service by 15.9% in the second quarter. Bank of New York Mellon Corp now owns 467,572 shares of the company’s stock worth $6,317,000 after buying an additional 64,187 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MTRX has been the subject of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $17.00 target price on shares of Matrix Service in a report on Friday, February 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Matrix Service in a report on Thursday, January 22nd. Finally, Northland Securities set a $24.00 target price on Matrix Service in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Matrix Service presently has an average rating of “Moderate Buy” and an average price target of $20.50.

About Matrix Service

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.