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

Stanley Laman Group Ltd. cut its holdings in Matrix Service (NASDAQ:MTRX) by 17.0% during the 4th quarter, according to the company in its most recent disclosure 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 quarter. Stanley Laman Group Ltd.’s holdings in Matrix Service were worth $3,290,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. bought a new stake in Matrix Service in the third quarter worth about $971,000. Gendell Jeffrey L raised its holdings in Matrix Service by 18.6% during the 3rd quarter. Gendell Jeffrey L now owns 825,000 shares of the company’s stock worth $9,735,000 after buying an additional 129,441 shares during the period. Acadian Asset Management LLC raised its holdings in Matrix Service by 21.6% during the 3rd quarter. Acadian Asset Management LLC now owns 361,988 shares of the company’s stock worth $4,270,000 after buying an additional 64,276 shares during the period. Quadrature Capital Ltd acquired a new stake in Matrix Service during the 3rd quarter worth about $245,000. Finally, Perritt Capital Management Inc. raised its holdings in Matrix Service by 100.9% during the 3rd quarter. Perritt Capital Management Inc. now owns 70,300 shares of the company’s stock worth $830,000 after buying an additional 35,300 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other news, VP Kevin A. Durkin sold 3,900 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $12.72, for a total value of $49,608.00. Following the transaction, the vice president now owns 76,131 shares in the company, valued at approximately $968,386.32. The sale 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 business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $13.25, for a total value of $132,500.00. Following the completion of the sale, the chief executive officer now owns 477,891 shares of the company’s stock, valued at approximately $6,332,055.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Kevin A. Durkin sold 3,900 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $12.72, for a total value of $49,608.00. Following the completion of the sale, the vice president now directly owns 76,131 shares of the company’s stock, valued at approximately $968,386.32. The disclosure for this sale can be found here. Insiders have sold 17,800 shares of company stock worth $233,354 in the last 90 days. Company insiders own 3.70% of the company’s stock.

Matrix Service Price Performance

NASDAQ MTRX traded up $0.23 on Thursday, hitting $11.77. 96,101 shares of the company were exchanged, compared to its average volume of 208,950. The company’s 50 day moving average price is $12.47 and its 200-day moving average price is $11.18. The firm has a market capitalization of $321.32 million, a P/E ratio of -16.81 and a beta of 1.23. Matrix Service has a twelve month low of $4.74 and a twelve month high of $13.90.

Matrix Service (NASDAQ:MTRX) last issued 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 business had revenue of $175.04 million during the quarter, compared to analyst estimates of $195.27 million. Matrix Service had a negative net margin of 2.49% and a negative return on equity of 12.50%. As a group, equities analysts expect that Matrix Service will post -0.35 EPS for the current year.

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.