Acadian Asset Management LLC Has $3.01 Million Position in Matrix Service Company $MTRX

Key Points

• Acadian Asset Management LLC has increased its stake in Matrix Service Company (NASDAQ:MTRX) by 129.2%, now owning approximately 242,161 shares valued at about $3.01 million.
• Matrix Service recently reported a loss of ($0.28) EPS for the quarter, missing estimates significantly, with revenues of $216.38 million compared to expected $232.25 million.
• Despite a recent downgrade from DA Davidson, Matrix Service holds a consensus rating of "Buy" with an average target price of $17.00.

Acadian Asset Management LLC grew its stake in Matrix Service Company (NASDAQ:MTRX - Free Report) by 129.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 242,161 shares of the company's stock after purchasing an additional 136,513 shares during the period. Acadian Asset Management LLC owned approximately 0.88% of Matrix Service worth $3,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Northern Trust Corp lifted its holdings in shares of Matrix Service by 6.3% during the fourth quarter. Northern Trust Corp now owns 252,557 shares of the company's stock valued at $3,023,000 after acquiring an additional 15,015 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Matrix Service by 11.2% during the fourth quarter. Ameriprise Financial Inc. now owns 89,176 shares of the company's stock valued at $1,067,000 after purchasing an additional 8,956 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Matrix Service in the fourth quarter valued at approximately $120,000. Deutsche Bank AG increased its stake in shares of Matrix Service by 49.7% in the 4th quarter. Deutsche Bank AG now owns 30,544 shares of the company's stock valued at $366,000 after buying an additional 10,142 shares during the period. Finally, State of Wyoming increased its stake in shares of Matrix Service by 557.4% in the 4th quarter. State of Wyoming now owns 35,224 shares of the company's stock valued at $422,000 after buying an additional 29,866 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their price target on shares of Matrix Service from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Matrix Service has a consensus rating of "Buy" and an average target price of $17.00.

Matrix Service Stock Performance

Shares of NASDAQ:MTRX opened at $12.99 on Tuesday. Matrix Service Company has a 52-week low of $9.33 and a 52-week high of $16.10. The company has a market capitalization of $358.65 million, a P/E ratio of -12.37, a price-to-earnings-growth ratio of 1.05 and a beta of 1.13. The company has a 50-day simple moving average of $14.54 and a 200 day simple moving average of $13.03.

Matrix Service (NASDAQ:MTRX - Get Free Report) last released its quarterly earnings data on Tuesday, September 9th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.30). Matrix Service had a negative net margin of 3.83% and a negative return on equity of 17.21%. The business had revenue of $216.38 million during the quarter, compared to the consensus estimate of $232.25 million. During the same quarter in the prior year, the company earned ($0.14) EPS. Matrix Service has set its FY 2026 guidance at EPS. As a group, equities analysts forecast that Matrix Service Company will post -0.26 earnings per share for the current year.

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.

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