Matrix Service (NASDAQ:MTRX) VP Sells $51,246.00 in Stock

Matrix Service (NASDAQ:MTRX) VP Kevin A. Durkin sold 3,900 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $13.14, for a total transaction of $51,246.00. Following the completion of the transaction, the vice president now directly owns 72,231 shares in the company, valued at $949,115.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Matrix Service Stock Performance

MTRX opened at $13.37 on Thursday. The company’s 50 day moving average is $11.55 and its 200-day moving average is $10.89. Matrix Service has a 1-year low of $4.74 and a 1-year high of $13.90.

Matrix Service (NASDAQ:MTRX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $175.04 million during the quarter, compared to analyst estimates of $195.27 million. On average, equities analysts expect that Matrix Service will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Matrix Service

A number of hedge funds have recently made changes to their positions in MTRX. BlackRock Inc. boosted its stake in shares of Matrix Service by 15.9% in the 1st quarter. BlackRock Inc. now owns 2,423,133 shares of the company’s stock valued at $19,917,000 after purchasing an additional 332,650 shares in the last quarter. Azarias Capital Management L.P. boosted its position in Matrix Service by 25.8% during the 4th quarter. Azarias Capital Management L.P. now owns 1,261,761 shares of the company’s stock worth $12,340,000 after buying an additional 258,390 shares during the period. Millennium Management LLC boosted its position in Matrix Service by 92.4% during the 2nd quarter. Millennium Management LLC now owns 443,717 shares of the company’s stock worth $2,245,000 after buying an additional 213,119 shares during the period. EAM Investors LLC acquired a new stake in Matrix Service during the 3rd quarter worth approximately $2,336,000. Finally, Renaissance Technologies LLC boosted its position in Matrix Service by 161.9% during the 1st quarter. Renaissance Technologies LLC now owns 238,350 shares of the company’s stock worth $1,287,000 after buying an additional 147,350 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.