Matrix Service (NASDAQ:MTRX) Downgraded by StockNews.com to “Hold”

Matrix Service (NASDAQ:MTRXGet Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Matrix Service Trading Up 2.5 %

Shares of Matrix Service stock opened at $10.91 on Friday. The company’s fifty day simple moving average is $12.38 and its two-hundred day simple moving average is $11.12. Matrix Service has a 12-month low of $5.30 and a 12-month high of $13.90. The company has a market cap of $297.84 million, a P/E ratio of -14.36 and a beta of 1.26.

Matrix Service (NASDAQ:MTRXGet Free Report) last posted its earnings results on Wednesday, February 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). The firm had revenue of $175.04 million for the quarter, compared to analysts’ expectations of $195.27 million. Matrix Service had a negative return on equity of 15.99% and a negative net margin of 2.81%. Analysts predict that Matrix Service will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at Matrix Service

In related news, VP Kevin A. Durkin sold 3,900 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $13.14, for a total value of $51,246.00. Following the sale, the vice president now owns 72,231 shares in the company, valued at approximately $949,115.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO John R. Hewitt sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $13.25, for a total value of $132,500.00. Following the completion of the transaction, the chief executive officer now directly owns 477,891 shares in the company, valued at approximately $6,332,055.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Kevin A. Durkin sold 3,900 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $13.14, for a total value of $51,246.00. Following the sale, the vice president now owns 72,231 shares in the company, valued at $949,115.34. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC lifted its stake in Matrix Service by 11.8% during the 1st quarter. Acadian Asset Management LLC now owns 421,808 shares of the company’s stock valued at $5,494,000 after acquiring an additional 44,419 shares during the period. Vanguard Group Inc. boosted its holdings in Matrix Service by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,223,781 shares of the company’s stock worth $15,946,000 after purchasing an additional 11,587 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in Matrix Service by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 205,561 shares of the company’s stock valued at $2,678,000 after buying an additional 3,157 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Matrix Service by 38.8% during the 4th quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock valued at $281,000 after buying an additional 8,059 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Matrix Service by 222.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,063 shares of the company’s stock worth $40,000 after acquiring an additional 2,802 shares during the period. 78.38% of the stock is owned by institutional investors.

Matrix Service Company Profile

(Get Free Report)

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.

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