Jacobs Levy Equity Management Inc. Grows Stake in Matrix Service (NASDAQ:MTRX)

Jacobs Levy Equity Management Inc. raised its stake in Matrix Service (NASDAQ:MTRX - Free Report) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,437 shares of the company's stock after acquiring an additional 19,923 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.56% of Matrix Service worth $1,861,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. ACK Asset Management LLC grew its stake in shares of Matrix Service by 47.3% in the fourth quarter. ACK Asset Management LLC now owns 1,179,901 shares of the company's stock worth $14,123,000 after acquiring an additional 378,901 shares during the last quarter. Westerly Capital Management LLC grew its stake in shares of Matrix Service by 4.5% in the fourth quarter. Westerly Capital Management LLC now owns 1,150,000 shares of the company's stock worth $13,766,000 after acquiring an additional 50,000 shares during the last quarter. Royce & Associates LP grew its stake in shares of Matrix Service by 4.0% in the fourth quarter. Royce & Associates LP now owns 898,122 shares of the company's stock worth $10,751,000 after acquiring an additional 34,860 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Matrix Service by 523.3% in the fourth quarter. American Century Companies Inc. now owns 294,889 shares of the company's stock worth $3,530,000 after acquiring an additional 247,578 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Matrix Service by 66.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,943 shares of the company's stock worth $3,315,000 after acquiring an additional 110,641 shares during the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Matrix Service Price Performance

Matrix Service stock opened at $12.88 on Friday. Matrix Service has a one year low of $8.61 and a one year high of $15.75. The stock has a market capitalization of $355.58 million, a PE ratio of -10.56 and a beta of 1.04. The business's fifty day moving average is $11.85 and its 200 day moving average is $12.69.

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

Analysts Set New Price Targets

MTRX has been the topic of several recent analyst reports. StockNews.com cut Matrix Service from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. DA Davidson increased their price objective on Matrix Service from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th.

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.

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