CenterBook Partners LP Boosts Position in Matrix Service Company (NASDAQ:MTRX)

Key Points

• CenterBook Partners LP increased its holdings in Matrix Service Company by 789.6% in the first quarter, owning 536,447 shares worth approximately $6.67 million.
• Matrix Service reported a quarterly loss of ($0.12) EPS, missing analyst estimates, with revenue of $200.16 million against a forecast of $215.06 million.
• The company's stock opened at $14.30 with a 12-month range between $8.81 and $16.10, reflecting a market capitalization of $394.82 million.

CenterBook Partners LP grew its stake in Matrix Service Company (NASDAQ:MTRX - Free Report) by 789.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 536,447 shares of the company's stock after purchasing an additional 476,148 shares during the period. CenterBook Partners LP owned approximately 1.94% of Matrix Service worth $6,668,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MTRX. Bank of New York Mellon Corp lifted its position in Matrix Service by 244.6% in the first quarter. Bank of New York Mellon Corp now owns 403,385 shares of the company's stock worth $5,014,000 after buying an additional 286,326 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Matrix Service in the first quarter valued at $914,000. De Lisle Partners LLP lifted its holdings in shares of Matrix Service by 28.9% in the 1st quarter. De Lisle Partners LLP now owns 237,935 shares of the company's stock worth $2,961,000 after acquiring an additional 53,343 shares during the last quarter. Westerly Capital Management LLC boosted its stake in shares of Matrix Service by 4.5% during the 4th quarter. Westerly Capital Management LLC now owns 1,150,000 shares of the company's stock worth $13,766,000 after purchasing an additional 50,000 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in Matrix Service by 21.6% during the 4th quarter. Russell Investments Group Ltd. now owns 245,828 shares of the company's stock valued at $2,943,000 after purchasing an additional 43,612 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Matrix Service Stock Up 0.4%

Matrix Service stock traded up $0.06 during midday trading on Friday, reaching $14.91. The stock had a trading volume of 79,135 shares, compared to its average volume of 145,982. The firm has a market cap of $411.67 million, a price-to-earnings ratio of -18.41, a price-to-earnings-growth ratio of 1.49 and a beta of 1.12. Matrix Service Company has a 52-week low of $8.82 and a 52-week high of $16.10. The company has a fifty day moving average of $13.69 and a 200 day moving average of $12.98.

Matrix Service (NASDAQ:MTRX - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.12) 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 for the quarter, compared to the consensus estimate of $215.06 million. Equities research analysts predict that Matrix Service Company will post -0.26 EPS for the current year.

Matrix Service 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.