EntryPoint Capital LLC Sells 45,451 Shares of Matrix Service (NASDAQ:MTRX)

EntryPoint Capital LLC decreased its stake in shares of Matrix Service (NASDAQ:MTRX) by 67.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,117 shares of the company’s stock after selling 45,451 shares during the quarter. EntryPoint Capital LLC owned about 0.08% of Matrix Service worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Harvey Partners LLC grew its holdings in 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 purchasing an additional 115,000 shares during the period. Needham Investment Management LLC grew its stake in shares of Matrix Service by 38.5% in the 3rd quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company’s stock valued at $16,373,000 after buying an additional 395,000 shares during the period. Royce & Associates LP grew its stake in shares of Matrix Service by 4.0% in the 4th quarter. Royce & Associates LP now owns 898,122 shares of the company’s stock valued at $10,751,000 after buying an additional 34,860 shares during the period. Geode Capital Management LLC increased its position in Matrix Service by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 598,103 shares of the company’s stock valued at $6,898,000 after buying an additional 4,709 shares in the last quarter. Finally, Portolan Capital Management LLC raised its stake in Matrix Service by 34.3% during the 3rd 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. Institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Performance

MTRX stock opened at $12.53 on Friday. The business has a 50-day simple moving average of $13.56 and a two-hundred day simple moving average of $12.64. The company has a market capitalization of $345.92 million, a P/E ratio of -10.27 and a beta of 1.11. Matrix Service has a 52-week low of $8.61 and a 52-week high of $15.75.

Matrix Service (NASDAQ:MTRX) last announced its 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 return on equity of 20.81% and a negative net margin of 4.76%. As a group, sell-side analysts forecast that Matrix Service will post -0.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. DA Davidson boosted their price objective on Matrix Service from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. StockNews.com lowered shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th.

Matrix Service Company 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.