First Wilshire Securities Reports 7.7% Stake in Matrix Service Co.
Ticker: MTRX · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 866273
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, equity-stake
TL;DR
**First Wilshire still holds 7.7% of MTRX, signaling continued institutional confidence.**
AI Summary
First Wilshire Securities Management, Inc. has updated its ownership stake in Matrix Service Company (MTRX) as of December 31, 2023. The investment firm now beneficially owns 2,123,536 shares, representing 7.7% of Matrix Service Company's common stock. This is an amendment to a previous filing, indicating a change in their holdings. This matters to investors because a significant institutional holder like First Wilshire increasing or maintaining a large stake can signal confidence in the company's future prospects, potentially influencing other investors' perceptions and the stock price.
Why It Matters
This filing shows a major institutional investor's continued significant stake in Matrix Service Company, which can be interpreted as a vote of confidence in the company's value and future performance.
Risk Assessment
Risk Level: low — This filing is a routine update on institutional ownership and does not inherently introduce new risks to the company or its investors.
Analyst Insight
Investors should note First Wilshire's continued significant stake in MTRX, but also research the reasons behind any changes in their holdings (if this was a decrease) or the stability of their position (if it was an increase or maintained) to understand the implications for Matrix Service Company's stock performance.
Key Numbers
- 2,123,536 — Shares Beneficially Owned (Represents the total number of Matrix Service Company shares First Wilshire Securities Management, Inc. holds with sole voting power.)
- 7.7% — Ownership Percentage (Indicates the proportion of Matrix Service Company's common stock owned by First Wilshire Securities Management, Inc.)
- 576853105 — CUSIP Number (Unique identifier for Matrix Service Company's common stock, ensuring accurate identification of the securities.)
Key Players & Entities
- First Wilshire Securities Management, Inc. (company) — the reporting person and institutional investor
- Matrix Service Company (company) — the subject company whose shares are being reported
- 2,123,536 (dollar_amount) — number of shares beneficially owned by First Wilshire
- 7.7% (dollar_amount) — percentage of common stock beneficially owned by First Wilshire
- December 31, 2023 (date) — the date of the event requiring this filing
Forward-Looking Statements
- First Wilshire Securities Management, Inc. will maintain a significant stake in Matrix Service Company. (First Wilshire Securities Management, Inc.) — medium confidence, target: Q3 2024
FAQ
What is the primary purpose of this SC 13G/A filing?
The primary purpose of this SC 13G/A filing is for First Wilshire Securities Management, Inc. to report an amendment to their beneficial ownership of common stock in Matrix Service Company, specifically as of December 31, 2023, under Rule 13d-1(b).
How many shares of Matrix Service Company does First Wilshire Securities Management, Inc. beneficially own?
First Wilshire Securities Management, Inc. beneficially owns 2,123,536 shares of Matrix Service Company's common stock, as stated in Item 5 of the filing.
What percentage of Matrix Service Company's common stock does First Wilshire Securities Management, Inc. own?
First Wilshire Securities Management, Inc. owns 7.7% of Matrix Service Company's common stock, as indicated in Item 9 of the filing.
What is the CUSIP number for the securities reported in this filing?
The CUSIP number for the common stock of Matrix Service Company is 576853105, as listed on the cover page and in Item 1 of the filing.
When was the event that required this filing?
The date of the event which requires the filing of this statement was December 31, 2023, as specified on the cover page of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 12, 2024 regarding MATRIX SERVICE CO (MTRX).