Barclays PLC Buys 25,434 Shares of Matrix Service (NASDAQ:MTRX)

Barclays PLC raised its stake in Matrix Service (NASDAQ:MTRX) by 90.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,435 shares of the company’s stock after buying an additional 25,434 shares during the quarter. Barclays PLC’s holdings in Matrix Service were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Matrix Service in the 3rd quarter valued at about $53,000. Quest Partners LLC bought a new stake in Matrix Service in the second quarter valued at approximately $83,000. BNP Paribas Financial Markets increased its stake in Matrix Service by 112.9% in the third 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 acquired a new stake in Matrix Service in the third quarter worth $108,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Matrix Service during the second quarter worth $110,000. Institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Performance

Shares of MTRX stock opened at $11.97 on Thursday. Matrix Service has a 52 week low of $8.61 and a 52 week high of $13.90. The company’s 50 day moving average price is $12.52 and its two-hundred day moving average price is $11.03. The company has a market capitalization of $329.83 million, a P/E ratio of -10.69 and a beta of 1.27.

Matrix Service (NASDAQ:MTRX) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.01). The company had revenue of $165.58 million for the quarter, compared to analyst estimates of $183.90 million. Matrix Service had a negative return on equity of 19.56% and a negative net margin of 4.46%. During the same quarter in the previous year, the business earned ($0.21) earnings per share. Analysts forecast that Matrix Service will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on MTRX. StockNews.com upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. DA Davidson restated a “buy” rating and issued a $18.00 price target on shares of Matrix Service in a report on Thursday, September 26th.

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.