Matrix Service (NASDAQ:MTRX) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its position in shares of Matrix Service (NASDAQ:MTRX) by 2,174.7% during the second quarter, Holdings Channel reports. The firm owned 36,395 shares of the company’s stock after acquiring an additional 34,795 shares during the quarter. Rhumbline Advisers’ holdings in Matrix Service were worth $361,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Trexquant Investment LP purchased a new position in Matrix Service in the fourth quarter valued at $317,000. Quadrature Capital Ltd lifted 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 purchasing an additional 8,059 shares during the period. Essex Investment Management Co. LLC lifted its position in Matrix Service by 1.6% in the first quarter. Essex Investment Management Co. LLC now owns 205,561 shares of the company’s stock valued at $2,678,000 after purchasing an additional 3,157 shares during the period. Vanguard Group Inc. lifted its position in Matrix Service by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,223,781 shares of the company’s stock valued at $15,946,000 after purchasing an additional 11,587 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Matrix Service by 11.8% in the first quarter. Acadian Asset Management LLC now owns 421,808 shares of the company’s stock valued at $5,494,000 after purchasing an additional 44,419 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Matrix Service Trading Up 5.2 %

MTRX stock opened at $11.55 on Friday. The firm has a 50 day moving average of $10.00 and a 200-day moving average of $10.90. Matrix Service has a 12-month low of $8.61 and a 12-month high of $13.90. The company has a market cap of $315.42 million, a price-to-earnings ratio of -15.20 and a beta of 1.24.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MTRX shares. DA Davidson restated a “buy” rating and issued a $18.00 price objective on shares of Matrix Service in a research report on Thursday. StockNews.com downgraded shares of Matrix Service from a “buy” rating to a “hold” rating in a research report on Wednesday, September 18th.

Matrix Service Company 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.