Martingale Asset Management L P Has $1.12 Million Stock Position in Matrix Service Company $MTRX

Key Points

• Martingale Asset Management L P increased its stake in Matrix Service Company by 518.0%, acquiring an additional 75,262 shares, bringing its total to 89,791 shares valued at approximately $1,116,000.
• A notable number of hedge funds have adjusted their positions, with Brooklyn Investment Group raising its stake by an astounding 2,026.3% in the first quarter.
• Matrix Service Company shares opened at $15.36, with a market cap of $424.10 million, reflecting a significant growth potential, as evidenced by its 52-week trading range of $9.14 to $16.10.

Martingale Asset Management L P raised its stake in shares of Matrix Service Company (NASDAQ:MTRX - Free Report) by 518.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,791 shares of the company's stock after purchasing an additional 75,262 shares during the quarter. Martingale Asset Management L P owned 0.33% of Matrix Service worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in Matrix Service during the first quarter valued at approximately $73,000. Brooklyn Investment Group boosted its holdings in Matrix Service by 2,026.3% during the first quarter. Brooklyn Investment Group now owns 3,402 shares of the company's stock valued at $42,000 after purchasing an additional 3,242 shares in the last quarter. Algert Global LLC acquired a new stake in Matrix Service during the first quarter valued at approximately $250,000. American Century Companies Inc. boosted its holdings in Matrix Service by 83.4% during the first quarter. American Century Companies Inc. now owns 540,909 shares of the company's stock valued at $6,723,000 after purchasing an additional 246,020 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of Matrix Service by 787.1% in the 1st quarter. Boston Partners now owns 492,772 shares of the company's stock worth $6,123,000 after acquiring an additional 437,222 shares in the last quarter. 78.38% of the stock is owned by institutional investors and hedge funds.

Matrix Service Price Performance

Shares of MTRX traded up $0.39 on Thursday, hitting $15.76. The company's stock had a trading volume of 126,411 shares, compared to its average volume of 191,907. The company has a market capitalization of $435.24 million, a PE ratio of -19.53, a PEG ratio of 1.52 and a beta of 1.12. Matrix Service Company has a fifty-two week low of $9.14 and a fifty-two week high of $16.10. The company has a 50 day moving average price of $14.36 and a 200 day moving average price of $13.05.

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.