Harvey Partners LLC Has $17.47 Million Position in Matrix Service (NASDAQ:MTRX)

Harvey Partners LLC raised its stake in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,515,000 shares of the company's stock after buying an additional 115,000 shares during the period. Matrix Service makes up 2.0% of Harvey Partners LLC's portfolio, making the stock its 23rd biggest position. Harvey Partners LLC owned about 5.50% of Matrix Service worth $17,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Quest Partners LLC acquired a new position in shares of Matrix Service in the 2nd quarter worth approximately $83,000. BNP Paribas Financial Markets grew its stake in shares of Matrix Service by 112.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company's stock worth $106,000 after purchasing an additional 4,860 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Matrix Service in the 3rd quarter worth approximately $108,000. The Manufacturers Life Insurance Company acquired a new position in shares of Matrix Service in the 2nd quarter worth approximately $110,000. Finally, Net Worth Advisory Group acquired a new position in shares of Matrix Service in the 3rd quarter worth approximately $125,000. Institutional investors and hedge funds own 78.38% of the company's stock.

Matrix Service Stock Performance

Shares of Matrix Service stock traded down $0.31 during trading on Tuesday, hitting $13.09. The stock had a trading volume of 127,628 shares, compared to its average volume of 213,181. The stock has a 50 day simple moving average of $12.05 and a 200 day simple moving average of $10.83. Matrix Service has a 1 year low of $8.61 and a 1 year high of $13.90.

Matrix Service (NASDAQ:MTRX - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.01). The firm had revenue of $165.58 million during the quarter, compared to analysts' expectations of $183.90 million. Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. During the same period last year, the business earned ($0.21) earnings per share. As a group, equities research analysts predict that Matrix Service will post -0.04 EPS for the current year.

Analysts Set New Price Targets

MTRX has been the topic of several recent research reports. DA Davidson reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Matrix Service in a research note on Thursday, September 26th. StockNews.com raised shares of Matrix Service from a "hold" rating to a "buy" rating in a research report on Wednesday, November 27th.

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.