Matrix Service (NASDAQ:MTRX) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of Matrix Service (NASDAQ:MTRX - Free Report) by 60.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,735 shares of the company's stock after selling 50,888 shares during the quarter. Assenagon Asset Management S.A. owned 0.12% of Matrix Service worth $377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Keene & Associates Inc. raised its holdings in shares of Matrix Service by 13.9% in the third quarter. Keene & Associates Inc. now owns 61,575 shares of the company's stock worth $710,000 after buying an additional 7,520 shares during the period. Stanley Laman Group Ltd. grew its stake in Matrix Service by 2.7% in the third quarter. Stanley Laman Group Ltd. now owns 335,444 shares of the company's stock worth $3,868,000 after purchasing an additional 8,823 shares in the last quarter. Net Worth Advisory Group purchased a new position in Matrix Service during the 3rd quarter worth $125,000. SG Americas Securities LLC bought a new stake in Matrix Service during the 3rd quarter valued at $108,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Matrix Service in the 2nd quarter worth $110,000. 78.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MTRX has been the subject of several recent research reports. StockNews.com upgraded Matrix Service from a "hold" rating to a "buy" rating in a report on Friday, October 18th. DA Davidson reaffirmed a "buy" rating and issued a $18.00 price target on shares of Matrix Service in a research report on Thursday, September 26th.

Matrix Service Stock Down 0.9 %

Shares of NASDAQ:MTRX traded down $0.10 during midday trading on Monday, reaching $11.14. The company's stock had a trading volume of 111,056 shares, compared to its average volume of 219,548. The stock has a fifty day moving average of $10.94 and a 200 day moving average of $10.61. Matrix Service has a twelve month low of $8.61 and a twelve month high of $13.90. The firm has a market capitalization of $306.88 million, a PE ratio of -12.24 and a beta of 1.25.

Matrix Service (NASDAQ:MTRX - Get Free Report) last issued its earnings results on Monday, September 9th. The company reported ($0.14) 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 the consensus estimate 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 anticipate that Matrix Service will post -0.05 earnings per share for the current fiscal 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.