Assenagon Asset Management S.A. Has $377,000 Stake in Matrix Service (NASDAQ:MTRX)

Assenagon Asset Management S.A. lowered its position in Matrix Service (NASDAQ:MTRX) by 60.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,735 shares of the company’s stock after selling 50,888 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of Matrix Service worth $377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Essex Investment Management Co. LLC lifted its stake in Matrix Service by 1.6% in the 1st 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 last quarter. Vanguard Group Inc. boosted its stake in shares of Matrix Service by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 1,223,781 shares of the company’s stock worth $15,946,000 after acquiring an additional 11,587 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Matrix Service by 11.8% during the 1st quarter. Acadian Asset Management LLC now owns 421,808 shares of the company’s stock worth $5,494,000 after acquiring an additional 44,419 shares during the last quarter. Gendell Jeffrey L raised its stake in Matrix Service by 5.8% in the 1st quarter. Gendell Jeffrey L now owns 870,556 shares of the company’s stock valued at $11,343,000 after acquiring an additional 48,000 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in Matrix Service by 71.8% during the 1st quarter. Ancora Advisors LLC now owns 121,863 shares of the company’s stock valued at $1,588,000 after purchasing an additional 50,940 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Analysts Set New Price Targets

MTRX has been the topic of several research reports. DA Davidson reiterated a “buy” rating and issued a $18.00 price objective on shares of Matrix Service in a report on Thursday, September 26th. StockNews.com upgraded shares of Matrix Service from a “hold” rating to a “buy” rating in a research note on Friday, October 18th.

Matrix Service Trading Up 0.1 %

NASDAQ:MTRX opened at $11.24 on Monday. The stock has a 50 day simple moving average of $10.92 and a 200 day simple moving average of $10.61. The stock has a market cap of $309.66 million, a P/E ratio of -12.35 and a beta of 1.25. Matrix Service has a 1-year low of $8.61 and a 1-year high of $13.90.

Matrix Service (NASDAQ:MTRX) last announced its earnings results on Monday, September 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.07. Matrix Service had a negative net margin of 3.43% and a negative return on equity of 16.87%. The company had revenue of $189.50 million during the quarter, compared to analysts’ expectations of $215.61 million. As a group, sell-side analysts forecast that Matrix Service will post -0.05 EPS for the current year.

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.