Essex Investment Management Co. LLC Sells 29,697 Shares of Matrix Service (NASDAQ:MTRX)

Essex Investment Management Co. LLC trimmed its holdings in Matrix Service (NASDAQ:MTRX) by 12.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 208,359 shares of the company’s stock after selling 29,697 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Matrix Service were worth $2,494,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Matrix Service by 2.7% in the 4th quarter. Rhumbline Advisers now owns 39,725 shares of the company’s stock valued at $475,000 after purchasing an additional 1,028 shares during the last quarter. Verition Fund Management LLC raised its holdings in Matrix Service by 5.8% during the third quarter. Verition Fund Management LLC now owns 22,639 shares of the company’s stock valued at $261,000 after buying an additional 1,239 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Matrix Service by 2.9% in the third quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock worth $651,000 after buying an additional 1,573 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Matrix Service by 18.4% during the 4th quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock worth $133,000 after acquiring an additional 1,731 shares in the last quarter. Finally, Money Concepts Capital Corp increased its holdings in shares of Matrix Service by 1.7% during the 4th quarter. Money Concepts Capital Corp now owns 108,057 shares of the company’s stock valued at $1,293,000 after acquiring an additional 1,790 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MTRX shares. DA Davidson boosted their target price on Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. StockNews.com lowered shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th.

Matrix Service Price Performance

MTRX stock opened at $11.78 on Monday. The stock has a market capitalization of $325.21 million, a price-to-earnings ratio of -9.66 and a beta of 1.11. The company has a 50-day moving average of $13.59 and a two-hundred day moving average of $12.36. Matrix Service has a 52-week low of $8.61 and a 52-week high of $15.75.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. Equities analysts expect that Matrix Service will post -0.26 EPS for the current fiscal year.

Matrix Service Company 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.