Millennium Management LLC Trims Stock Position in Matrix Service (NASDAQ:MTRX)

Millennium Management LLC lessened its position in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 48.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 211,585 shares of the company's stock after selling 201,438 shares during the period. Millennium Management LLC owned 0.77% of Matrix Service worth $2,533,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in Matrix Service by 180.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,713 shares of the company's stock worth $32,000 after buying an additional 1,746 shares during the last quarter. R Squared Ltd bought a new position in Matrix Service during the fourth quarter worth $45,000. Legal & General Group Plc raised its stake in Matrix Service by 29.6% during the fourth quarter. Legal & General Group Plc now owns 8,236 shares of the company's stock worth $99,000 after buying an additional 1,881 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Matrix Service during the fourth quarter worth $99,000. Finally, Cubist Systematic Strategies LLC bought a new position in Matrix Service during the fourth quarter worth $120,000. Institutional investors own 78.38% of the company's stock.

Analyst Ratings Changes

MTRX has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Matrix Service from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. DA Davidson lifted their price objective on shares of Matrix Service from $18.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, February 11th.

Matrix Service Trading Down 2.0%

Shares of NASDAQ MTRX traded down $0.25 during midday trading on Wednesday, hitting $12.16. The company's stock had a trading volume of 115,114 shares, compared to its average volume of 205,317. The stock has a fifty day moving average price of $11.74 and a 200 day moving average price of $12.71. Matrix Service has a one year low of $8.61 and a one year high of $15.75. The firm has a market capitalization of $335.75 million, a price-to-earnings ratio of -9.97 and a beta of 1.04.

Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its quarterly earnings results 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 business 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.

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.