Cary Street Partners Financial LLC Invests $914,000 in Matrix Service Company (NASDAQ:MTRX)

Key Points

• Cary Street Partners Financial LLC invested approximately $914,000 in Matrix Service Company, acquiring 73,531 shares during the first quarter.
• Matrix Service reported a loss of ($0.12) earnings per share, missing analysts' estimates, with a revenue of $200.16 million for the last quarter.
• As of the latest filing, institutional investors own 78.38% of Matrix Service, indicating strong institutional interest in the company.

Cary Street Partners Financial LLC acquired a new stake in shares of Matrix Service Company (NASDAQ:MTRX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 73,531 shares of the company's stock, valued at approximately $914,000. Cary Street Partners Financial LLC owned about 0.27% of Matrix Service as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. New York State Teachers Retirement System acquired a new stake in shares of Matrix Service in the first quarter worth $30,000. Tower Research Capital LLC TRC raised its holdings in Matrix Service by 180.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,713 shares of the company's stock worth $32,000 after acquiring an additional 1,746 shares during the period. Aquatic Capital Management LLC acquired a new position in Matrix Service during the 4th quarter worth $99,000. Legal & General Group Plc boosted its holdings in Matrix Service by 29.6% during the fourth quarter. Legal & General Group Plc now owns 8,236 shares of the company's stock valued at $99,000 after acquiring an additional 1,881 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in Matrix Service during the fourth quarter valued at about $120,000. 78.38% of the stock is owned by institutional investors.

Matrix Service Stock Performance

Matrix Service stock opened at $14.85 on Friday. Matrix Service Company has a 52 week low of $8.82 and a 52 week high of $16.10. The firm has a market capitalization of $410.02 million, a PE ratio of -18.33, a PEG ratio of 1.43 and a beta of 1.12. The business's 50-day simple moving average is $13.64 and its 200-day simple moving average is $12.99.

Matrix Service (NASDAQ:MTRX - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.07). Matrix Service had a negative net margin of 3.04% and a negative return on equity of 14.08%. The business had revenue of $200.16 million during the quarter, compared to analyst estimates of $215.06 million. Research analysts forecast that Matrix Service Company will post -0.26 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.