Matrix Service (NASDAQ:MTRX) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. decreased its stake in Matrix Service (NASDAQ:MTRX) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 336,386 shares of the company’s stock after selling 68,848 shares during the period. Stanley Laman Group Ltd. owned 1.24% of Matrix Service worth $3,290,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Jump Financial LLC acquired a new position in shares of Matrix Service in the 3rd quarter valued at $144,000. Algert Global LLC boosted its stake in Matrix Service by 17.9% during the 3rd quarter. Algert Global LLC now owns 12,490 shares of the company’s stock worth $147,000 after purchasing an additional 1,900 shares during the period. Quadrature Capital Ltd acquired a new stake in Matrix Service during the 3rd quarter worth $245,000. Barclays PLC boosted its stake in Matrix Service by 382.9% during the 3rd quarter. Barclays PLC now owns 31,000 shares of the company’s stock worth $366,000 after purchasing an additional 24,580 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in Matrix Service during the 3rd quarter worth $516,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th.

Matrix Service Trading Up 2.0 %

Shares of MTRX traded up $0.23 during trading hours on Thursday, reaching $11.77. The company had a trading volume of 96,101 shares, compared to its average volume of 208,950. The firm has a 50 day simple moving average of $12.47 and a 200-day simple moving average of $11.18. The company has a market capitalization of $321.32 million, a price-to-earnings ratio of -16.81 and a beta of 1.23. Matrix Service has a 12-month low of $4.74 and a 12-month high of $13.90.

Matrix Service (NASDAQ:MTRX) last posted its earnings results on Wednesday, February 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.08). Matrix Service had a negative net margin of 2.49% and a negative return on equity of 12.50%. The business had revenue of $175.04 million for the quarter, compared to analysts’ expectations of $195.27 million. Sell-side analysts forecast that Matrix Service will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Matrix Service news, VP Kevin A. Durkin sold 3,900 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $12.72, for a total transaction of $49,608.00. Following the sale, the vice president now directly owns 76,131 shares of the company’s stock, valued at approximately $968,386.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John R. Hewitt sold 10,000 shares of the firm’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 sale, the chief executive officer now directly owns 477,891 shares of the company’s stock, valued at $6,332,055.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin A. Durkin sold 3,900 shares of Matrix Service stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $12.72, for a total transaction of $49,608.00. Following the transaction, the vice president now directly owns 76,131 shares in the company, valued at $968,386.32. The disclosure for this sale can be found here. Insiders have sold 17,800 shares of company stock valued at $233,354 in the last ninety days. Insiders own 3.70% of the company’s stock.

Matrix Service Profile

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.