WealthTrust Axiom LLC Sells 54,777 Shares of Matrix Service (NASDAQ:MTRX)

WealthTrust Axiom LLC lowered its stake in shares of Matrix Service (NASDAQ:MTRX) by 25.1% during the fourth quarter, HoldingsChannel reports. The firm owned 163,075 shares of the company’s stock after selling 54,777 shares during the quarter. WealthTrust Axiom LLC’s holdings in Matrix Service were worth $1,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. bought a new stake in shares of Matrix Service during the 3rd quarter worth approximately $971,000. Gendell Jeffrey L lifted its position in shares of Matrix Service by 18.6% during the 3rd quarter. Gendell Jeffrey L now owns 825,000 shares of the company’s stock valued at $9,735,000 after acquiring an additional 129,441 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Matrix Service during the 3rd quarter worth $245,000. Acadian Asset Management LLC lifted its position in shares of Matrix Service by 21.6% during the 3rd quarter. Acadian Asset Management LLC now owns 361,988 shares of the company’s stock worth $4,270,000 after buying an additional 64,276 shares during the last quarter. Finally, Perritt Capital Management Inc. lifted its position in shares of Matrix Service by 100.9% during the 3rd quarter. Perritt Capital Management Inc. now owns 70,300 shares of the company’s stock worth $830,000 after buying an additional 35,300 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Matrix Service Stock Performance

Shares of MTRX stock traded down $0.12 on Tuesday, hitting $11.24. The company had a trading volume of 67,188 shares, compared to its average volume of 204,130. The firm has a market cap of $306.85 million, a P/E ratio of -16.23 and a beta of 1.23. The stock’s 50-day moving average is $12.43 and its two-hundred day moving average is $11.16. Matrix Service has a twelve month low of $4.78 and a twelve month high of $13.90.

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

Insider Buying and Selling

In related news, VP Kevin A. Durkin sold 3,900 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $13.14, for a total transaction of $51,246.00. Following the completion of the sale, the vice president now owns 72,231 shares of the company’s stock, valued at $949,115.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Matrix Service news, CEO John R. Hewitt sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $13.25, for a total value of $132,500.00. Following the completion of the sale, the chief executive officer now owns 477,891 shares of the company’s stock, valued at $6,332,055.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kevin A. Durkin sold 3,900 shares of the firm’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 value of $51,246.00. Following the completion of the sale, the vice president now directly owns 72,231 shares of the company’s stock, valued at approximately $949,115.34. The disclosure for this sale can be found here. Insiders sold 17,800 shares of company stock valued at $233,354 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Matrix Service from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th.

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.