Nancy Austin Sells 4,193 Shares of Matrix Service (NASDAQ:MTRX) Stock

by · The Markets Daily

Matrix Service Company (NASDAQ:MTRX – Get Free Report) VP Nancy Austin sold 4,193 shares of Matrix Service stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $11.29, for a total value of $47,338.97. Following the transaction, the vice president directly owned 106,138 shares in the company, valued at approximately $1,198,298.02. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Matrix Service Trading Up 0.4%

Shares of Matrix Service stock traded up $0.05 during trading on Thursday, reaching $11.13. The company’s stock had a trading volume of 75,905 shares, compared to its average volume of 262,802. The stock has a market capitalization of $312.95 million, a P/E ratio of -16.36, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. Matrix Service Company has a one year low of $9.33 and a one year high of $16.10. The stock has a 50-day moving average price of $12.52 and a two-hundred day moving average price of $13.07.

Matrix Service (NASDAQ:MTRX – Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.06). Matrix Service had a negative return on equity of 8.56% and a negative net margin of 2.30%.The firm had revenue of $210.51 million for the quarter, compared to analysts’ expectations of $215.42 million. As a group, sell-side analysts anticipate that Matrix Service Company will post -0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Northland Securities set a $24.00 target price on Matrix Service in a research note on Wednesday, February 11th. DA Davidson reiterated a “buy” rating and set a $17.00 target price on shares of Matrix Service in a research report on Friday, February 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Matrix Service in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Get Our Latest Stock Report on MTRX

Institutional Investors Weigh In On Matrix Service

A number of large investors have recently bought and sold shares of MTRX. Quarry LP bought a new position in Matrix Service in the 3rd quarter worth about $28,000. BNP Paribas Financial Markets lifted its stake in Matrix Service by 68.9% in the second quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company’s stock worth $34,000 after acquiring an additional 1,032 shares during the period. Tower Research Capital LLC TRC grew its stake in Matrix Service by 133.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company’s stock worth $45,000 after purchasing an additional 1,893 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Matrix Service during the third quarter valued at $67,000. Finally, Daytona Street Capital LLC purchased a new stake in Matrix Service in the fourth quarter worth approximately $78,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

About Matrix Service

(Get Free Report)

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.

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