RBF Capital LLC Cuts Stock Holdings in Matrix Service (NASDAQ:MTRX)

RBF Capital LLC cut its holdings in Matrix Service (NASDAQ:MTRX - Free Report) by 29.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,161 shares of the company's stock after selling 41,910 shares during the quarter. RBF Capital LLC owned approximately 0.37% of Matrix Service worth $1,166,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Portolan Capital Management LLC increased its stake in Matrix Service by 34.3% during the 3rd quarter. Portolan Capital Management LLC now owns 509,059 shares of the company's stock valued at $5,869,000 after purchasing an additional 129,989 shares in the last quarter. Needham Investment Management LLC raised its holdings in shares of 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 during the last quarter. Harvey Partners LLC boosted its holdings 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 purchasing an additional 115,000 shares during the last quarter. Verition Fund Management LLC raised its stake in Matrix Service by 5.8% during the 3rd quarter. Verition Fund Management LLC now owns 22,639 shares of the company's stock valued at $261,000 after buying an additional 1,239 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Matrix Service by 129.1% in the third quarter. MetLife Investment Management LLC now owns 15,519 shares of the company's stock valued at $179,000 after acquiring an additional 8,744 shares during the period. 78.38% of the stock is currently owned by institutional investors.

Matrix Service Stock Performance

Shares of NASDAQ MTRX traded up $0.09 during trading on Thursday, hitting $13.27. The company had a trading volume of 80,802 shares, compared to its average volume of 212,162. Matrix Service has a 12 month low of $8.61 and a 12 month high of $13.90. The firm has a market capitalization of $365.72 million, a P/E ratio of -11.77 and a beta of 1.27. The stock has a 50 day simple moving average of $12.12 and a 200 day simple moving average of $10.86.

Matrix Service (NASDAQ:MTRX - Get Free Report) last issued its quarterly 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 for the quarter, compared to analysts' expectations of $183.90 million. Matrix Service had a negative net margin of 4.46% and a negative return on equity of 19.56%. During the same period in the prior year, the firm earned ($0.21) EPS. As a group, analysts predict that Matrix Service will post -0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.