Legato Capital Management LLC Sells 19,443 Shares of Matrix Service (NASDAQ:MTRX)

Legato Capital Management LLC reduced its position in Matrix Service (NASDAQ:MTRX - Free Report) by 23.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,911 shares of the company's stock after selling 19,443 shares during the quarter. Legato Capital Management LLC owned about 0.22% of Matrix Service worth $741,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MTRX. Needham Investment Management LLC raised its position in Matrix Service by 38.5% during the third quarter. Needham Investment Management LLC now owns 1,420,000 shares of the company's stock valued at $16,373,000 after purchasing an additional 395,000 shares in the last quarter. Portolan Capital Management LLC boosted its stake in 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 in the last quarter. Harvey Partners LLC boosted its stake 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 buying an additional 115,000 shares in the last quarter. Royce & Associates LP grew its position in Matrix Service by 14.3% during the third quarter. Royce & Associates LP now owns 863,262 shares of the company's stock valued at $9,953,000 after acquiring an additional 107,820 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Matrix Service by 204.0% during the third 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 in the last quarter. Hedge funds and other institutional investors own 78.38% of the company's stock.

Matrix Service Trading Down 1.0 %

MTRX stock traded down $0.16 during midday trading on Monday, hitting $15.20. The company had a trading volume of 180,075 shares, compared to its average volume of 214,635. The stock has a market cap of $418.91 million, a price-to-earnings ratio of -12.46 and a beta of 1.28. Matrix Service has a 52 week low of $8.61 and a 52 week high of $15.75. The stock's 50 day moving average price is $13.46 and its 200 day moving average price is $12.00.

Matrix Service (NASDAQ:MTRX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate 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%. Analysts predict that Matrix Service will post -0.04 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.