Matrix Service (NASDAQ:MTRX) Share Price Passes Above 200 Day Moving Average of $11.18

Matrix Service (NASDAQ:MTRX)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.18 and traded as high as $11.71. Matrix Service shares last traded at $11.46, with a volume of 160,352 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Saturday, February 17th.

Matrix Service Stock Down 1.3 %

The firm has a market capitalization of $312.86 million, a price-to-earnings ratio of -16.37 and a beta of 1.23. The firm’s 50 day moving average is $12.51 and its 200 day moving average is $11.18.

Matrix Service (NASDAQ:MTRX) last released its earnings results on Wednesday, February 7th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.08). Matrix Service had a negative net margin of 2.49% and a negative return on equity of 12.50%. The business had revenue of $175.04 million for the quarter, compared to analyst estimates of $195.27 million. On average, sell-side analysts predict that Matrix Service will post -0.35 earnings per share for the current year.

Insider Activity at Matrix Service

In other news, VP Kevin A. Durkin sold 3,900 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $13.14, for a total transaction of $51,246.00. Following the sale, the vice president now owns 72,231 shares in the company, valued at $949,115.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Kevin A. Durkin sold 3,900 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $13.14, for a total transaction of $51,246.00. Following the sale, the vice president now owns 72,231 shares in the company, valued at $949,115.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John R. Hewitt sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $13.25, for a total transaction of $132,500.00. Following the sale, the chief executive officer now owns 477,891 shares in the company, valued at approximately $6,332,055.75. The disclosure for this sale can be found here. Insiders sold a total of 17,800 shares of company stock valued at $233,354 over the last ninety days. Insiders own 3.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MTRX. Azarias Capital Management L.P. increased its stake in Matrix Service by 25.8% in the 4th quarter. Azarias Capital Management L.P. now owns 1,261,761 shares of the company’s stock valued at $12,340,000 after buying an additional 258,390 shares during the period. EAM Investors LLC acquired a new position in Matrix Service in the 3rd quarter valued at approximately $2,336,000. Gendell Jeffrey L increased its stake in Matrix Service by 18.6% in the 3rd quarter. Gendell Jeffrey L now owns 825,000 shares of the company’s stock valued at $9,735,000 after buying an additional 129,441 shares during the period. Citigroup Inc. acquired a new position in Matrix Service in the 3rd quarter valued at approximately $971,000. Finally, Acadian Asset Management LLC increased its stake in Matrix Service by 21.6% in the 3rd quarter. Acadian Asset Management LLC now owns 361,988 shares of the company’s stock valued at $4,270,000 after buying an additional 64,276 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

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.