Portolan Capital Management LLC Boosts Stake in Matrix Service (NASDAQ:MTRX)

Portolan Capital Management LLC lifted its holdings in Matrix Service (NASDAQ:MTRX) by 34.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 509,059 shares of the company’s stock after buying an additional 129,989 shares during the period. Portolan Capital Management LLC’s holdings in Matrix Service were worth $5,869,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new stake in Matrix Service during the second quarter worth $83,000. BNP Paribas Financial Markets increased its position in shares of Matrix Service by 112.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after purchasing an additional 4,860 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Matrix Service during the 3rd quarter worth $108,000. The Manufacturers Life Insurance Company purchased a new position in shares of Matrix Service in the 2nd quarter worth about $110,000. Finally, Net Worth Advisory Group bought a new position in Matrix Service during the third quarter valued at about $125,000. 78.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MTRX shares. StockNews.com upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. DA Davidson reissued a “buy” rating and set a $18.00 price objective on shares of Matrix Service in a report on Thursday, September 26th.

Matrix Service Stock Performance

Shares of Matrix Service stock opened at $13.09 on Wednesday. The stock has a market capitalization of $360.76 million, a P/E ratio of -11.69 and a beta of 1.27. Matrix Service has a 52-week low of $8.61 and a 52-week high of $13.90. The stock’s 50-day simple moving average is $12.08 and its 200 day simple moving average is $10.84.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.01). The business had revenue of $165.58 million during the quarter, compared to the consensus estimate of $183.90 million. Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. During the same period last year, the firm earned ($0.21) EPS. Equities research analysts forecast that Matrix Service will post -0.04 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.