ACK Asset Management LLC Boosts Stock Position in Matrix Service (NASDAQ:MTRX)

ACK Asset Management LLC raised its holdings in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 47.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,179,901 shares of the company's stock after purchasing an additional 378,901 shares during the period. Matrix Service accounts for 1.9% of ACK Asset Management LLC's portfolio, making the stock its 19th largest position. ACK Asset Management LLC owned approximately 4.28% of Matrix Service worth $14,123,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. R Squared Ltd bought a new position in Matrix Service in the 4th quarter worth about $45,000. Quarry LP purchased a new position in Matrix Service in the third quarter worth about $53,000. Legal & General Group Plc lifted its stake in shares of Matrix Service by 29.6% in the fourth 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 grew its holdings in shares of Matrix Service by 112.9% during the third quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company's stock valued at $106,000 after buying an additional 4,860 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Matrix Service by 18.4% during the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company's stock valued at $133,000 after acquiring an additional 1,731 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Matrix Service Stock Performance

Shares of MTRX stock traded down $0.03 during trading hours on Friday, reaching $10.19. The company had a trading volume of 122,045 shares, compared to its average volume of 209,132. The business has a fifty day moving average price of $12.73 and a 200-day moving average price of $12.64. Matrix Service has a one year low of $8.61 and a one year high of $15.75. The firm has a market cap of $281.32 million, a PE ratio of -8.35 and a beta of 1.01.

Matrix Service (NASDAQ:MTRX - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, topping analysts' consensus estimates 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 research analysts forecast that Matrix Service will post -0.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTRX. DA Davidson increased their target price on Matrix Service from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. StockNews.com downgraded Matrix Service from a "strong-buy" rating to a "buy" rating in a 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.