Matrix Service (NASDAQ:MTRX) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. cut its holdings in Matrix Service (NASDAQ:MTRX - Free Report) by 28.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 153,802 shares of the company's stock after selling 60,204 shares during the period. D. E. Shaw & Co. Inc. owned about 0.56% of Matrix Service worth $1,841,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Matrix Service by 180.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,713 shares of the company's stock valued at $32,000 after buying an additional 1,746 shares during the period. R Squared Ltd bought a new position in Matrix Service in the 4th quarter worth about $45,000. Legal & General Group Plc grew its position in Matrix Service by 29.6% in the 4th quarter. Legal & General Group Plc now owns 8,236 shares of the company's stock worth $99,000 after purchasing an additional 1,881 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Matrix Service in the 4th quarter worth about $99,000. Finally, Cubist Systematic Strategies LLC bought a new position in Matrix Service in the 4th quarter worth about $120,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Matrix Service Price Performance

Shares of Matrix Service stock traded up $0.32 on Tuesday, hitting $12.45. The company had a trading volume of 11,792 shares, compared to its average volume of 207,563. The business has a 50-day simple moving average of $11.80 and a 200-day simple moving average of $12.73. The company has a market cap of $343.62 million, a PE ratio of -10.22 and a beta of 1.04. Matrix Service has a 52 week low of $8.61 and a 52 week high of $15.75.

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

Analysts Set New Price Targets

Several research analysts have commented on MTRX shares. DA Davidson upped their target price 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. Wall Street Zen cut shares of Matrix Service from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th.

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.