Stanley Laman Group Ltd. Acquires 8,823 Shares of Matrix Service (NASDAQ:MTRX)

Stanley Laman Group Ltd. boosted its holdings in shares of Matrix Service (NASDAQ:MTRX) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 335,444 shares of the company’s stock after acquiring an additional 8,823 shares during the period. Stanley Laman Group Ltd.’s holdings in Matrix Service were worth $3,868,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MTRX. Quest Partners LLC bought a new position in Matrix Service in the 2nd quarter valued at about $83,000. SG Americas Securities LLC purchased a new stake in shares of Matrix Service in the third quarter worth approximately $108,000. The Manufacturers Life Insurance Company bought a new position in shares of Matrix Service in the second quarter valued at approximately $110,000. Net Worth Advisory Group purchased a new position in shares of Matrix Service during the third quarter valued at approximately $125,000. Finally, XTX Topco Ltd grew its holdings in Matrix Service by 66.3% during the second quarter. XTX Topco Ltd now owns 20,932 shares of the company’s stock worth $208,000 after buying an additional 8,344 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Matrix Service Stock Down 0.4 %

MTRX stock opened at $11.47 on Wednesday. The firm has a market cap of $313.23 million, a PE ratio of -15.09 and a beta of 1.26. The business has a 50 day moving average of $10.63 and a 200-day moving average of $10.67. Matrix Service has a 12-month low of $8.61 and a 12-month high of $13.90.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. The firm had revenue of $189.50 million during the quarter, compared to the consensus estimate of $215.61 million. Matrix Service had a negative return on equity of 16.87% and a negative net margin of 3.43%. On average, research analysts expect that Matrix Service will post -0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MTRX. DA Davidson reaffirmed a “buy” rating and set a $18.00 price objective on shares of Matrix Service in a report on Thursday, September 26th. StockNews.com upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a report on Friday, October 18th.

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.