Marshall Wace LLP Cuts Stock Holdings in Matrix Service (NASDAQ:MTRX)

Marshall Wace LLP cut its holdings in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 34.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,369 shares of the company's stock after selling 56,946 shares during the quarter. Marshall Wace LLP owned 0.40% of Matrix Service worth $1,309,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in Matrix Service in the 4th quarter worth $45,000. Legal & General Group Plc raised its position in Matrix Service by 29.6% in the 4th quarter. Legal & General Group Plc now owns 8,236 shares of the company's stock worth $99,000 after purchasing an additional 1,881 shares during the period. SG Americas Securities LLC raised its position in Matrix Service by 18.4% in the 4th quarter. SG Americas Securities LLC now owns 11,123 shares of the company's stock worth $133,000 after purchasing an additional 1,731 shares during the period. Virtu Financial LLC purchased a new position in Matrix Service in the 3rd quarter worth $155,000. Finally, Martingale Asset Management L P purchased a new position in Matrix Service in the 4th quarter worth $174,000. 78.38% of the stock is currently owned by institutional investors.

Matrix Service Trading Down 1.8 %

MTRX stock opened at $11.69 on Tuesday. The firm's 50-day moving average price is $11.88 and its two-hundred day moving average price is $12.61. Matrix Service has a 12-month low of $8.61 and a 12-month high of $15.75. The stock has a market capitalization of $322.73 million, a price-to-earnings ratio of -9.58 and a beta of 1.01.

Matrix Service (NASDAQ:MTRX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.76% and a negative return on equity of 20.81%. Equities analysts predict that Matrix Service will post -0.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. DA Davidson lifted their target price on shares of Matrix Service from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. StockNews.com cut shares of Matrix Service from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th.

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.

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