Man Group plc Acquires Shares of 194,010 Matrix Service Company $MTRX

Key Points

• Man Group plc acquired 194,010 shares of Matrix Service during the second quarter, worth approximately $2.66 million and representing about 0.69% of the company. Institutional investors collectively own 78.38% of MTRX.
• Analyst sentiment is mixed: Weiss Ratings maintained a “sell (D-)” rating, while MarketBeat’s consensus remains “Moderate Buy” with a target price of $20.50.
• Matrix Service shares opened at $10.81, near the lower end of their 12-month range of $9.88 to $15.97; the company has a market capitalization of approximately $304 million.

Man Group plc purchased a new stake in Matrix Service Company (NASDAQ:MTRX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 194,010 shares of the company's stock, valued at approximately $2,658,000. Man Group plc owned approximately 0.69% of Matrix Service as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sei Investments Co. boosted its holdings in Matrix Service by 7.2% during the second quarter. Sei Investments Co. now owns 15,170 shares of the company's stock worth $205,000 after purchasing an additional 1,025 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Matrix Service by 68.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,530 shares of the company's stock valued at $34,000 after buying an additional 1,032 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its position in shares of Matrix Service by 4.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 37,305 shares of the company's stock worth $436,000 after buying an additional 1,670 shares in the last quarter. Strs Ohio lifted its position in shares of Matrix Service by 3.8% during the 4th quarter. Strs Ohio now owns 47,000 shares of the company's stock worth $550,000 after buying an additional 1,700 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Matrix Service by 133.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,307 shares of the company's stock worth $45,000 after buying an additional 1,893 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Matrix Service in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Matrix Service currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.50.

Matrix Service Stock Down 0.2%

Shares of MTRX opened at $10.81 on Tuesday. Matrix Service Company has a twelve month low of $9.88 and a twelve month high of $15.97. The stock has a market cap of $304.09 million, a PE ratio of -20.40, a P/E/G ratio of 0.87 and a beta of 1.00. The business's 50-day moving average price is $12.12 and its 200-day moving average price is $12.11.

About Matrix Service

Matrix Service Company NASDAQ: MTRX is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company's service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.

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