BNP Paribas Financial Markets Lowers Position in Matrix Service (NASDAQ:MTRX)

BNP Paribas Financial Markets lessened its position in Matrix Service (NASDAQ:MTRX) by 62.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,470 shares of the company’s stock after selling 5,695 shares during the quarter. BNP Paribas Financial Markets’ holdings in Matrix Service were worth $42,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTRX. SG Americas Securities LLC lifted its stake in shares of Matrix Service by 18.4% in the 4th quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock valued at $133,000 after purchasing an additional 1,731 shares during the period. Money Concepts Capital Corp lifted its stake in shares of Matrix Service by 1.7% in the 4th quarter. Money Concepts Capital Corp now owns 108,057 shares of the company’s stock valued at $1,293,000 after purchasing an additional 1,790 shares during the period. Rhumbline Advisers lifted its stake in shares of Matrix Service by 2.7% in the 4th quarter. Rhumbline Advisers now owns 39,725 shares of the company’s stock valued at $475,000 after purchasing an additional 1,028 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Matrix Service by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 75,843 shares of the company’s stock valued at $908,000 after purchasing an additional 2,576 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Matrix Service by 15.8% in the 4th quarter. Victory Capital Management Inc. now owns 84,078 shares of the company’s stock valued at $1,006,000 after purchasing an additional 11,491 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Up 1.8%

MTRX stock opened at $12.41 on Wednesday. Matrix Service has a twelve month low of $8.61 and a twelve month high of $15.75. The firm has a market cap of $342.65 million, a PE ratio of -10.17 and a beta of 1.04. The business has a 50 day moving average of $11.74 and a 200 day moving average of $12.71.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. The company had revenue of $200.16 million for the quarter, compared to the consensus estimate of $215.06 million. On average, research analysts expect that Matrix Service will post -0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on MTRX. DA Davidson raised their target price on Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Wall Street Zen lowered Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th.

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.