Royce & Associates Cuts Matrix Service Co. Stake to 3.3%
Ticker: MTRX · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 866273
| Field | Detail |
|---|---|
| Company | Matrix Service CO (MTRX) |
| Form Type | SC 13G/A |
| Filed Date | Jan 30, 2024 |
| Risk Level | medium |
| Sentiment | bearish |
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, stake-reduction, SC-13G/A, investor-sentiment
TL;DR
**Royce & Associates just trimmed its MTRX stake to 3.3%, watch for potential bearish sentiment.**
AI Summary
Royce & Associates, LP, an investment firm, filed an Amendment No. 17 to their SC 13G filing for Matrix Service Company (MTRX) on January 30, 2024, indicating their ownership as of December 31, 2023. They reported beneficial ownership of 896,259 shares of Common Stock, representing 3.3% of the company's outstanding shares. This is a decrease from their previous reported stake, signaling a reduction in their investment in Matrix Service Company, which could be interpreted as a less bullish outlook from a significant institutional investor.
Why It Matters
This filing shows that a major institutional investor, Royce & Associates, LP, has reduced its stake in Matrix Service Company, which could signal a change in their investment thesis or outlook on the company's future performance.
Risk Assessment
Risk Level: medium — A significant institutional investor reducing its stake can indicate potential concerns or a less optimistic outlook, which could impact stock performance.
Analyst Insight
A smart investor would investigate the reasons behind Royce & Associates, LP's decision to reduce their stake in Matrix Service Company, potentially looking into recent company news, earnings reports, or industry trends that might have influenced this move, before making any investment decisions.
Key Numbers
- 896,259 — Shares Beneficially Owned (This is the total number of shares of Matrix Service Company's Common Stock that Royce & Associates, LP reported owning as of December 31, 2023.)
- 3.3% — Percentage of Class (This represents the percentage of Matrix Service Company's outstanding Common Stock beneficially owned by Royce & Associates, LP, indicating a reduction from previous filings.)
- Amendment No. 17 — Filing Amendment Number (This indicates that Royce & Associates, LP has filed 17 updates to their initial SC 13G filing for Matrix Service Company, suggesting a long-term, active investment.)
Key Players & Entities
- Royce & Associates, LP (company) — the reporting person and institutional investor
- Matrix Service Company (company) — the issuer of the securities
- 896,259 (dollar_amount) — number of shares beneficially owned by Royce & Associates, LP
- 3.3% (dollar_amount) — percentage of Matrix Service Company's outstanding shares owned by Royce & Associates, LP
- December 31, 2023 (date) — the date of the event which required the filing
- January 30, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- Matrix Service Company's stock price may experience downward pressure or increased volatility due to the reduction in institutional ownership. (Matrix Service Company (MTRX)) — medium confidence, target: Q1 2024
- Other institutional investors might re-evaluate their positions in Matrix Service Company following Royce & Associates' reduced stake. (Institutional Investors) — low confidence, target: Q2 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 17) to a Schedule 13G, filed by Royce & Associates, LP, to update their beneficial ownership of Common Stock in Matrix Service Company as of December 31, 2023.
Who is the reporting person in this filing?
The reporting person is Royce & Associates, LP, with IRS Identification No. 52-2343049 and organized in New York, as stated on the cover page of the filing.
How many shares of Matrix Service Company does Royce & Associates, LP beneficially own?
As of December 31, 2023, Royce & Associates, LP beneficially owns 896,259 shares of Matrix Service Company's Common Stock, with both sole voting and sole dispositive power over these shares, according to items 5 and 7 on the cover page.
What percentage of Matrix Service Company's outstanding shares does Royce & Associates, LP own?
Royce & Associates, LP beneficially owns 3.3% of the class of Matrix Service Company's Common Stock, as indicated in the filing.
What is the CUSIP number for Matrix Service Company's Common Stock?
The CUSIP number for Matrix Service Company's Common Stock is 576853105, as listed on the cover page of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding MATRIX SERVICE CO (MTRX).