Bridgeway Capital Management LLC Lowers Stake in Matrix Service (NASDAQ:MTRX)

Bridgeway Capital Management LLC decreased its position in Matrix Service (NASDAQ:MTRX - Free Report) by 40.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,300 shares of the company's stock after selling 25,900 shares during the period. Bridgeway Capital Management LLC owned about 0.14% of Matrix Service worth $458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ACK Asset Management LLC increased its stake in shares of Matrix Service by 47.3% during the fourth quarter. ACK Asset Management LLC now owns 1,179,901 shares of the company's stock worth $14,123,000 after purchasing an additional 378,901 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Matrix Service by 523.3% during the fourth quarter. American Century Companies Inc. now owns 294,889 shares of the company's stock worth $3,530,000 after purchasing an additional 247,578 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Matrix Service by 66.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,943 shares of the company's stock worth $3,315,000 after acquiring an additional 110,641 shares during the last quarter. WINTON GROUP Ltd boosted its position in Matrix Service by 355.1% during the fourth quarter. WINTON GROUP Ltd now owns 80,199 shares of the company's stock worth $960,000 after acquiring an additional 62,578 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Matrix Service by 204.0% during the third quarter. JPMorgan Chase & Co. now owns 90,663 shares of the company's stock worth $1,045,000 after acquiring an additional 60,838 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Matrix Service Stock Down 0.9%

NASDAQ:MTRX traded down $0.11 on Friday, hitting $12.77. The stock had a trading volume of 148,566 shares, compared to its average volume of 209,184. The company has a fifty day moving average price of $11.86 and a two-hundred day moving average price of $12.71. Matrix Service has a 1-year low of $8.61 and a 1-year high of $15.75. The stock has a market cap of $352.59 million, a price-to-earnings ratio of -10.47 and a beta of 1.04.

Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. The firm had revenue of $200.16 million during the quarter, compared to analysts' expectations of $215.06 million. As a group, analysts anticipate that Matrix Service will post -0.26 earnings per share for the current year.

Analyst Ratings Changes

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

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.