Bridgeway Capital Management LLC Reduces Stake in Matrix Service (NASDAQ:MTRX)

Bridgeway Capital Management LLC decreased its position in shares of Matrix Service (NASDAQ:MTRX) by 40.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,300 shares of the company’s stock after selling 25,900 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.14% of Matrix Service worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of MTRX. ACK Asset Management LLC increased its holdings in shares of Matrix Service by 47.3% during the 4th quarter. ACK Asset Management LLC now owns 1,179,901 shares of the company’s stock worth $14,123,000 after buying an additional 378,901 shares during the last quarter. Westerly Capital Management LLC raised its position in Matrix Service by 4.5% in the fourth quarter. Westerly Capital Management LLC now owns 1,150,000 shares of the company’s stock valued at $13,766,000 after purchasing an additional 50,000 shares during the period. Royce & Associates LP lifted its stake in shares of Matrix Service by 4.0% in the 4th quarter. Royce & Associates LP now owns 898,122 shares of the company’s stock valued at $10,751,000 after purchasing an additional 34,860 shares during the last quarter. American Century Companies Inc. lifted its position in Matrix Service by 523.3% in the fourth quarter. American Century Companies Inc. now owns 294,889 shares of the company’s stock valued at $3,530,000 after buying an additional 247,578 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Matrix Service by 66.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 276,943 shares of the company’s stock worth $3,315,000 after buying an additional 110,641 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MTRX shares. DA Davidson upped their price objective on shares of Matrix Service from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. StockNews.com lowered Matrix Service from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th.

Matrix Service Price Performance

Shares of NASDAQ:MTRX opened at $12.50 on Monday. The firm has a market capitalization of $345.09 million, a PE ratio of -10.25 and a beta of 1.04. Matrix Service has a 1 year low of $8.61 and a 1 year high of $15.75. The firm’s 50-day moving average is $11.77 and its two-hundred day moving average is $12.66.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). The company had revenue of $200.16 million for the quarter, compared to analysts’ expectations of $215.06 million. Matrix Service had a negative return on equity of 20.81% and a negative net margin of 4.76%. Analysts expect that Matrix Service will post -0.26 EPS for the current fiscal year.

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.