Matrix Service Company $MTRX Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP raised its stake in Matrix Service Company (NASDAQ:MTRX) by 482.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 212,213 shares of the company’s stock after acquiring an additional 175,788 shares during the quarter. GSA Capital Partners LLP owned approximately 0.75% of Matrix Service worth $2,483,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Matrix Service in the third quarter worth $28,000. BNP Paribas Financial Markets raised its holdings in shares of Matrix Service by 68.9% in the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock worth $34,000 after acquiring an additional 1,032 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Matrix Service by 133.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after acquiring an additional 1,893 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in Matrix Service in the third quarter valued at $67,000. Finally, Daytona Street Capital LLC acquired a new position in Matrix Service in the fourth quarter valued at $78,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Matrix Service Stock Performance

Shares of MTRX opened at $12.22 on Tuesday. The company has a market capitalization of $343.75 million, a P/E ratio of -23.06, a P/E/G ratio of 2.63 and a beta of 1.02. Matrix Service Company has a one year low of $9.88 and a one year high of $16.10. The stock has a 50-day moving average price of $11.77 and a 200 day moving average price of $12.13.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The firm had revenue of $206.71 million during the quarter, compared to the consensus estimate of $231.52 million. Matrix Service had a negative return on equity of 3.60% and a negative net margin of 1.77%. As a group, equities research analysts forecast that Matrix Service Company will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at Matrix Service

In other Matrix Service news, VP Nancy E. Austin sold 4,193 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $11.29, for a total transaction of $47,338.97. Following the transaction, the vice president owned 106,138 shares of the company’s stock, valued at $1,198,298.02. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John R. Hewitt sold 36,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $12.50, for a total value of $450,000.00. Following the transaction, the chief executive officer directly owned 581,806 shares in the company, valued at approximately $7,272,575. This represents a 5.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

MTRX has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Matrix Service in a research note on Tuesday, April 21st. Northland Securities set a $24.00 target price on Matrix Service in a research note on Wednesday, February 11th. Finally, DA Davidson reiterated a “buy” rating and issued a $17.00 target price on shares of Matrix Service in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.