Victory Capital Management Inc. Increases Holdings in Matrix Service (NASDAQ:MTRX)

Victory Capital Management Inc. raised its stake in Matrix Service (NASDAQ:MTRX) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,600 shares of the company’s stock after purchasing an additional 2,900 shares during the quarter. Victory Capital Management Inc.’s holdings in Matrix Service were worth $691,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MTRX. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Matrix Service in the fourth quarter valued at about $126,000. Quadrature Capital Ltd grew its position in Matrix Service by 38.8% in the fourth quarter. Quadrature Capital Ltd now owns 28,807 shares of the company’s stock valued at $281,000 after acquiring an additional 8,059 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Matrix Service during the fourth quarter valued at approximately $317,000. Rhumbline Advisers lifted its position in shares of Matrix Service by 2,174.7% during the second quarter. Rhumbline Advisers now owns 36,395 shares of the company’s stock worth $361,000 after purchasing an additional 34,795 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Matrix Service in the second quarter valued at $830,000. Institutional investors and hedge funds own 78.38% of the company’s stock.

Analysts Set New Price Targets

MTRX has been the topic of several analyst reports. DA Davidson reaffirmed a “buy” rating and set a $18.00 price target on shares of Matrix Service in a research note on Tuesday, September 10th. StockNews.com lowered Matrix Service from a “buy” rating to a “hold” rating in a research report on Wednesday.

Matrix Service Stock Up 4.5 %

Shares of MTRX opened at $11.29 on Friday. The firm has a market cap of $308.32 million, a price-to-earnings ratio of -14.86, a PEG ratio of 3.19 and a beta of 1.24. The business’s 50 day moving average is $9.91 and its two-hundred day moving average is $10.93. Matrix Service has a 52-week low of $8.61 and a 52-week high of $13.90.

Matrix Service 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.