Hudson Bay Capital Management LP Buys Shares of 100,000 Matrix Service Company $MTRX

Hudson Bay Capital Management LP bought a new position in shares of Matrix Service Company (NASDAQ:MTRX) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 100,000 shares of the company’s stock, valued at approximately $1,308,000. Hudson Bay Capital Management LP owned 0.36% of Matrix Service at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MTRX. State of Wyoming boosted its stake in Matrix Service by 4.2% during the 3rd quarter. State of Wyoming now owns 17,401 shares of the company’s stock worth $228,000 after acquiring an additional 696 shares during the last quarter. Sei Investments Co. increased its stake in Matrix Service by 7.2% in the second quarter. Sei Investments Co. now owns 15,170 shares of the company’s stock valued at $205,000 after purchasing an additional 1,025 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in 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 purchasing an additional 1,032 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Matrix Service by 133.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Matrix Service during the third quarter worth $28,000. 78.38% of the stock is owned by institutional investors.

Matrix Service Stock Performance

Shares of NASDAQ MTRX opened at $10.12 on Monday. The stock has a 50 day moving average price of $11.99 and a 200 day moving average price of $12.42. The stock has a market capitalization of $284.66 million, a PE ratio of -14.88, a price-to-earnings-growth ratio of 2.34 and a beta of 0.97. Matrix Service Company has a 52 week low of $9.33 and a 52 week high of $16.10.

Matrix Service (NASDAQ:MTRX) last issued its earnings results 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 return on equity of 8.56% and a negative net margin of 2.30%.The firm had revenue of $210.51 million for the quarter, compared to analyst estimates of $215.42 million. As a group, research analysts forecast that Matrix Service Company will post -0.26 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on MTRX shares. Northland Securities set a $24.00 price objective on shares of Matrix Service in a research report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Matrix Service in a research note on Thursday, January 22nd. Finally, DA Davidson restated a “buy” rating and issued a $17.00 price target on shares of Matrix Service in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Insider Activity

In related news, VP Nancy E. Austin sold 4,193 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $11.29, for a total value of $47,338.97. Following the completion of the sale, the vice president directly 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 the SEC website. Insiders own 4.40% of the company’s stock.

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.