Prescott Group Capital Management L.L.C. Makes New $1.06 Million Investment in Matrix Service Company $MTRX

Prescott Group Capital Management L.L.C. purchased a new position in Matrix Service Company (NASDAQ:MTRX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 90,400 shares of the company’s stock, valued at approximately $1,058,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its stake in Matrix Service by 482.6% in the 4th quarter. GSA Capital Partners LLP now owns 212,213 shares of the company’s stock worth $2,483,000 after buying an additional 175,788 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in Matrix Service by 4.7% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 37,305 shares of the company’s stock worth $436,000 after buying an additional 1,670 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Matrix Service by 10.0% in the 4th quarter. First Eagle Investment Management LLC now owns 640,083 shares of the company’s stock worth $7,489,000 after buying an additional 58,209 shares during the last quarter. Strs Ohio lifted its stake in shares of Matrix Service by 3.8% in the 4th quarter. Strs Ohio now owns 47,000 shares of the company’s stock valued at $550,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Financial Plan Inc. acquired a new position in shares of Matrix Service in the 4th quarter valued at about $557,000. 78.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MTRX shares. Northland Securities set a $24.00 price objective on Matrix Service in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Matrix Service in a research note on Tuesday, April 21st. Finally, DA Davidson reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Matrix Service in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Matrix Service Stock Performance

Shares of NASDAQ:MTRX opened at $12.64 on Thursday. The company has a market cap of $355.56 million, a P/E ratio of -23.85, a PEG ratio of 2.70 and a beta of 1.02. Matrix Service Company has a one year low of $9.88 and a one year high of $16.10. The business’s 50-day simple moving average is $11.83 and its 200 day simple moving average is $12.09.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. The business had revenue of $206.71 million for the quarter, compared to the consensus estimate of $231.52 million. Matrix Service had a negative return on equity of 3.60% and a negative net margin of 1.77%. Analysts predict that Matrix Service Company will post 0.25 earnings per share for the current year.

Insider Activity at Matrix Service

In related news, CEO John R. Hewitt sold 36,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $12.50, for a total transaction of $450,000.00. Following the sale, the chief executive officer directly owned 581,806 shares in the company, valued at approximately $7,272,575. This trade represents a 5.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.40% of the company’s stock.

Matrix Service Company Profile

Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.

The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.