Acadian Asset Management LLC Purchases 136,513 Shares of 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 lifted its holdings in Matrix Service Company (NASDAQ:MTRX - Free Report) by 129.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. New York State Teachers Retirement System purchased a new position in Matrix Service in the 1st quarter valued at approximately $30,000. Brooklyn Investment Group increased its holdings in Matrix Service by 2,026.3% during the 1st quarter. Brooklyn Investment Group now owns 3,402 shares of the company's stock worth $42,000 after purchasing an additional 3,242 shares during the period. Quantbot Technologies LP purchased a new stake in Matrix Service during the 1st quarter worth about $73,000. Cubist Systematic Strategies LLC acquired a new position in shares of Matrix Service during the fourth quarter worth about $120,000. Finally, CWM LLC grew its position in shares of Matrix Service by 138.4% during the first quarter. CWM LLC now owns 10,002 shares of the company's stock worth $124,000 after buying an additional 5,806 shares in the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Insider Transactions at Matrix Service

In related news, Director John D. Chandler acquired 2,300 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was purchased at an average cost of $12.74 per share, for a total transaction of $29,302.00. Following the purchase, the director directly owned 78,053 shares in the company, valued at $994,395.22. This represents a 3.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 4.10% of the stock is owned by corporate insiders.

Matrix Service Stock Down 1.4%

Shares of Matrix Service stock traded down $0.18 during trading hours on Friday, hitting $12.82. The company's stock had a trading volume of 595,726 shares, compared to its average volume of 262,164. The business has a fifty day moving average of $14.49 and a 200 day moving average of $13.04. The company has a market capitalization of $353.96 million, a PE ratio of -12.21, a P/E/G ratio of 1.07 and a beta of 1.13. Matrix Service Company has a 1-year low of $9.33 and a 1-year high of $16.10.

Matrix Service (NASDAQ:MTRX - Get Free Report) last announced its earnings results on Tuesday, September 9th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.30). The firm had revenue of $216.38 million during the quarter, compared to analysts' expectations of $232.25 million. Matrix Service had a negative net margin of 3.83% and a negative return on equity of 17.21%. During the same quarter last year, the company posted ($0.14) earnings per share. Matrix Service has set its FY 2026 guidance at EPS. On average, sell-side analysts anticipate that Matrix Service Company will post -0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Matrix Service

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.