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

Legato Capital Management LLC cut its stake in Matrix Service (NASDAQ:MTRX) by 23.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Verition Fund Management LLC grew its holdings in shares of Matrix Service by 5.8% during the 3rd quarter. Verition Fund Management LLC now owns 22,639 shares of the company’s stock worth $261,000 after acquiring an additional 1,239 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in shares of Matrix Service by 2.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 56,498 shares of the company’s stock valued at $651,000 after purchasing an additional 1,573 shares in the last quarter. SG Americas Securities LLC grew its stake in Matrix Service by 18.4% in the fourth quarter. SG Americas Securities LLC now owns 11,123 shares of the company’s stock worth $133,000 after purchasing an additional 1,731 shares during the period. Money Concepts Capital Corp grew its stake in Matrix Service by 1.7% in the fourth quarter. Money Concepts Capital Corp now owns 108,057 shares of the company’s stock worth $1,293,000 after purchasing an additional 1,790 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Matrix Service by 4.3% in the third quarter. Victory Capital Management Inc. now owns 72,587 shares of the company’s stock worth $837,000 after purchasing an additional 2,987 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.

Matrix Service Trading Down 0.1 %

Shares of MTRX opened at $15.36 on Friday. The firm has a fifty day simple moving average of $13.32 and a two-hundred day simple moving average of $11.88. The firm has a market cap of $424.04 million, a PE ratio of -12.59 and a beta of 1.28. Matrix Service has a 1-year low of $8.61 and a 1-year high of $15.75.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, February 5th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.02. Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. As a group, research analysts forecast that Matrix Service will post -0.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on MTRX shares. DA Davidson boosted 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. StockNews.com cut Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Friday.

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.