Matrix Service (NASDAQ:MTRX) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 25.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 309,085 shares of the company's stock after selling 106,045 shares during the quarter. Millennium Management LLC owned 1.13% of Matrix Service worth $3,069,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Bank of Montreal Can raised its position in Matrix Service by 195.2% during the second quarter. Bank of Montreal Can now owns 48,117 shares of the company's stock valued at $483,000 after acquiring an additional 31,817 shares in the last quarter. XTX Topco Ltd increased its position in shares of Matrix Service by 66.3% in the second quarter. XTX Topco Ltd now owns 20,932 shares of the company's stock valued at $208,000 after buying an additional 8,344 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Matrix Service by 4.6% in the second quarter. Renaissance Technologies LLC now owns 203,700 shares of the company's stock valued at $2,023,000 after buying an additional 8,900 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Matrix Service by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,172,616 shares of the company's stock valued at $11,644,000 after buying an additional 3,215 shares in the last quarter. Finally, Keene & Associates Inc. increased its position in shares of Matrix Service by 4.3% in the second quarter. Keene & Associates Inc. now owns 54,055 shares of the company's stock valued at $537,000 after buying an additional 2,206 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com upgraded Matrix Service from a "hold" rating to a "buy" rating in a research report on Tuesday, October 8th. DA Davidson restated a "buy" rating and issued a $18.00 price objective on shares of Matrix Service in a research report on Thursday, September 26th.

Matrix Service Stock Performance

Shares of NASDAQ:MTRX traded up $0.18 during trading on Tuesday, reaching $11.58. The stock had a trading volume of 97,199 shares, compared to its average volume of 228,640. The business has a fifty day moving average price of $10.33 and a 200-day moving average price of $10.73. The stock has a market cap of $316.24 million, a PE ratio of -15.24 and a beta of 1.26. 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 issued its quarterly earnings results on Monday, September 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.07. The firm had revenue of $189.50 million for the quarter, compared to analyst estimates of $215.61 million. Matrix Service had a negative return on equity of 16.87% and a negative net margin of 3.43%. Sell-side analysts expect that Matrix Service will post -0.05 earnings per share for the current year.

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.