ACK Asset Management LLC Buys 378,901 Shares of Matrix Service (NASDAQ:MTRX)

ACK Asset Management LLC raised its stake in Matrix Service (NASDAQ:MTRX) by 47.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,179,901 shares of the company’s stock after acquiring an additional 378,901 shares during the period. Matrix Service makes up 1.9% of ACK Asset Management LLC’s portfolio, making the stock its 19th largest holding. ACK Asset Management LLC owned approximately 4.28% of Matrix Service worth $14,123,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MTRX. R Squared Ltd purchased a new position in shares of Matrix Service in the 4th quarter worth $45,000. Quarry LP bought a new position in shares of Matrix Service during the 3rd quarter valued at approximately $53,000. Legal & General Group Plc grew its position in shares of Matrix Service by 29.6% during the 4th 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 in the last quarter. BNP Paribas Financial Markets lifted its stake in Matrix Service by 112.9% in the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock worth $106,000 after acquiring an additional 4,860 shares during the period. Finally, SG Americas Securities LLC increased its position in Matrix Service by 18.4% during the 4th quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock valued at $133,000 after purchasing an additional 1,731 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Performance

Shares of NASDAQ MTRX opened at $10.10 on Tuesday. The company has a market cap of $278.83 million, a PE ratio of -8.28 and a beta of 1.01. The business has a 50-day simple moving average of $13.15 and a two-hundred day simple moving average of $12.70. Matrix Service has a fifty-two week low of $8.61 and a fifty-two week high of $15.75.

Matrix Service (NASDAQ:MTRX) last issued its earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, sell-side analysts predict that Matrix Service will post -0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MTRX. DA Davidson upped their price target 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 lowered Matrix Service from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th.

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.