Insider Selling: Matrix Service Co. (MTRX) Insider Sells $99,112.80 in Stock
Matrix Service Co. (NASDAQ:MTRX) insider James P. Ryan sold 5,416 shares of the business’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $18.30, for a total value of $99,112.80. Following the completion of the transaction, the insider now owns 84,541 shares of the company’s stock, valued at approximately $1,547,100.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Matrix Service Co. (NASDAQ:MTRX) opened at 18.54 on Friday. The firm’s 50-day moving average price is $17.81 and its 200 day moving average price is $17.28. The company has a market cap of $491.68 million, a price-to-earnings ratio of 17.33 and a beta of 1.66. Matrix Service Co. has a 12-month low of $14.07 and a 12-month high of $26.22.
Matrix Service (NASDAQ:MTRX) last announced its earnings results on Tuesday, August 30th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. The business had revenue of $359.60 million for the quarter. Matrix Service had a return on equity of 10.47% and a net margin of 2.20%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. On average, analysts predict that Matrix Service Co. will post $1.25 earnings per share for the current year.
Several analysts recently commented on MTRX shares. DA Davidson reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Matrix Service in a report on Friday, August 26th. TheStreet raised Matrix Service from a “hold” rating to a “buy” rating in a report on Friday, September 16th. Barclays PLC cut their price objective on Matrix Service from $41.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, June 6th. Finally, Zacks Investment Research raised Matrix Service from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $24.33.
Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC boosted its stake in shares of Matrix Service by 14.6% in the first quarter. Renaissance Technologies LLC now owns 67,359 shares of the company’s stock valued at $1,192,000 after buying an additional 8,559 shares during the period. Geode Capital Management LLC boosted its stake in shares of Matrix Service by 5.6% in the first quarter. Geode Capital Management LLC now owns 355,481 shares of the company’s stock valued at $6,291,000 after buying an additional 18,969 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Matrix Service by 26.0% in the first quarter. Goldman Sachs Group Inc. now owns 57,352 shares of the company’s stock valued at $1,015,000 after buying an additional 11,827 shares during the period. Menta Capital LLC boosted its stake in shares of Matrix Service by 62.9% in the first quarter. Menta Capital LLC now owns 41,165 shares of the company’s stock valued at $729,000 after buying an additional 15,900 shares during the period. Finally, Royce & Associates LP boosted its stake in shares of Matrix Service by 9.7% in the first quarter. Royce & Associates LP now owns 2,760,795 shares of the company’s stock valued at $48,866,000 after buying an additional 244,412 shares during the period. 91.96% of the stock is currently owned by institutional investors and hedge funds.
Matrix Service Company Profile
Matrix Service Company provides engineering, fabrication, infrastructure, construction and maintenance services primarily to the oil, gas, power, petrochemical, industrial, mining and minerals markets. The Company’s Electrical Infrastructure segment primarily provides construction and maintenance services to a range of power generation facilities, such as combined cycle plants and renewable energy installations.
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