CenterBook Partners LP Has $7.42 Million Stake in Matrix Service Company $MTRX

CenterBook Partners LP boosted its position in shares of Matrix Service Company (NASDAQ:MTRX) by 55.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 634,046 shares of the company’s stock after acquiring an additional 226,325 shares during the period. CenterBook Partners LP owned 2.25% of Matrix Service worth $7,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. WINTON GROUP Ltd lifted its position in Matrix Service by 5.0% during the 4th quarter. WINTON GROUP Ltd now owns 85,911 shares of the company’s stock worth $1,005,000 after acquiring an additional 4,125 shares during the last quarter. Geode Capital Management LLC lifted its position in Matrix Service by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 667,970 shares of the company’s stock worth $7,817,000 after acquiring an additional 23,358 shares during the last quarter. Cary Street Partners Financial LLC lifted its position in Matrix Service by 4.2% during the 4th quarter. Cary Street Partners Financial LLC now owns 74,305 shares of the company’s stock worth $869,000 after acquiring an additional 2,972 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in Matrix Service during the 4th quarter worth $1,058,000. Finally, GSA Capital Partners LLP lifted its position in Matrix Service by 482.6% during the 4th quarter. GSA Capital Partners LLP now owns 212,213 shares of the company’s stock worth $2,483,000 after acquiring an additional 175,788 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Wall Street Analyst Weigh In

MTRX has been the subject of a number of research analyst reports. Northland Securities set a $24.00 target price 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 report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Matrix Service Stock Performance

Shares of MTRX opened at $13.56 on Monday. The company has a 50-day simple moving average of $12.47 and a 200-day simple moving average of $12.10. The firm has a market capitalization of $381.44 million, a P/E ratio of -25.58, a P/E/G ratio of 3.01 and a beta of 0.99. Matrix Service Company has a 52 week low of $9.88 and a 52 week high of $16.10.

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

Insider Activity at Matrix Service

In other news, CEO John R. Hewitt sold 36,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $12.50, for a total transaction of $450,000.00. Following the completion of the transaction, the chief executive officer owned 581,806 shares of the company’s stock, valued at approximately $7,272,575. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Matrix Service Profile

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.