Victory Capital Management Inc. Increases Stock Position in Matrix Service (NASDAQ:MTRX)

Victory Capital Management Inc. increased its position in shares of Matrix Service (NASDAQ:MTRX) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,078 shares of the company’s stock after acquiring an additional 11,491 shares during the quarter. Victory Capital Management Inc. owned about 0.31% of Matrix Service worth $1,006,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Matrix Service during the 4th quarter worth approximately $45,000. Quarry LP acquired a new position in Matrix Service during the 3rd quarter valued at approximately $53,000. BNP Paribas Financial Markets increased its stake in Matrix Service by 112.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,165 shares of the company’s stock valued at $106,000 after purchasing an additional 4,860 shares in the last quarter. SG Americas Securities LLC increased its stake in Matrix Service by 18.4% during the 4th quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock valued at $133,000 after purchasing an additional 1,731 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Matrix Service during the 3rd quarter valued at approximately $155,000. Institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Performance

Shares of NASDAQ MTRX opened at $13.09 on Friday. The company’s fifty day moving average price is $13.64 and its 200 day moving average price is $12.51. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75. The company has a market capitalization of $361.38 million, a PE ratio of -10.73 and a beta of 1.11.

Matrix Service (NASDAQ:MTRX) last announced its quarterly earnings results on Wednesday, February 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. On average, equities analysts expect that Matrix Service will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of Matrix Service from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. DA Davidson increased their price objective on shares of Matrix Service from $18.00 to $20.00 and gave the stock 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.