Money Concepts Capital Corp Increases Stake in Matrix Service (NASDAQ:MTRX)

Money Concepts Capital Corp increased its holdings in Matrix Service (NASDAQ:MTRX) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 108,057 shares of the company’s stock after acquiring an additional 1,790 shares during the quarter. Money Concepts Capital Corp’s holdings in Matrix Service were worth $1,293,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Needham Investment Management LLC increased its stake in Matrix Service by 38.5% in the 3rd quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company’s stock worth $16,373,000 after purchasing an additional 395,000 shares during the period. Portolan Capital Management LLC increased its stake in shares of Matrix Service by 34.3% in the third quarter. Portolan Capital Management LLC now owns 509,059 shares of the company’s stock worth $5,869,000 after buying an additional 129,989 shares during the period. Harvey Partners LLC increased its stake in shares of Matrix Service by 8.2% in the third quarter. Harvey Partners LLC now owns 1,515,000 shares of the company’s stock worth $17,468,000 after buying an additional 115,000 shares during the period. Royce & Associates LP raised its holdings in Matrix Service by 14.3% during the 3rd quarter. Royce & Associates LP now owns 863,262 shares of the company’s stock valued at $9,953,000 after buying an additional 107,820 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Matrix Service by 204.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 90,663 shares of the company’s stock worth $1,045,000 after acquiring an additional 60,838 shares during the last quarter. 78.38% of the stock is owned by institutional investors.

Matrix Service Stock Performance

MTRX opened at $14.04 on Thursday. The stock has a market capitalization of $386.87 million, a PE ratio of -12.54 and a beta of 1.28. The stock’s 50 day moving average price is $13.15 and its 200-day moving average price is $11.71. Matrix Service has a 52-week low of $8.61 and a 52-week high of $15.45.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. Research analysts forecast that Matrix Service will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th.

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.