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Do Hedge Funds and Insiders Love Matrix Service Co (MTRX)?

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Should Matrix Service Co (NASDAQ:MTRX) investors track the following data?

To many market players, hedge funds are assumed to be delayed, outdated investment vehicles of a period lost to current times. Although there are In excess of 8,000 hedge funds with their doors open today, this site focuses on the masters of this group, around 525 funds. It is widely held that this group oversees the lion’s share of all hedge funds’ total assets, and by paying attention to their highest performing equity investments, we’ve brought to light a few investment strategies that have historically beaten the broader indices. Our small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points annually for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outclassed the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).

Equally as key, optimistic insider trading activity is another way to analyze the marketplace. Just as you’d expect, there are plenty of incentives for an upper level exec to drop shares of his or her company, but only one, very clear reason why they would buy. Plenty of academic studies have demonstrated the useful potential of this tactic if investors understand where to look (learn more here).

Now that that’s out of the way, we’re going to analyze the newest info for Matrix Service Co (NASDAQ:MTRX).

Hedge fund activity in Matrix Service Co (NASDAQ:MTRX)

At the end of the second quarter, a total of 14 of the hedge funds we track were bullish in this stock, a change of 27% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were upping their stakes substantially.

Matrix Service Co (NASDAQ:MTRX)According to our 13F database, Royce & Associates, managed by Chuck Royce, holds the largest position in Matrix Service Co (NASDAQ:MTRX). Royce & Associates has a $49.5 million position in the stock, comprising 0.2% of its 13F portfolio. On Royce & Associates’s heels is Columbus Circle Investors, managed by Donald Chiboucis, which held a $3.3 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Other hedge funds that are bullish include Israel Englander’s Millennium Management, John Overdeck and David Siegel’s Two Sigma Advisors and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

As aggregate interest spiked, specific money managers were leading the bulls’ herd. Royce & Associates, managed by Chuck Royce, established the most outsized position in Matrix Service Co (NASDAQ:MTRX). Royce & Associates had 49.5 million invested in the company at the end of the quarter. Donald Chiboucis’s Columbus Circle Investors also initiated a $3.3 million position during the quarter. The other funds with brand new MTRX positions are Israel Englander’s Millennium Management, John Overdeck and David Siegel’s Two Sigma Advisors, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

How have insiders been trading Matrix Service Co (NASDAQ:MTRX)?

Legal insider trading, particularly when it’s bullish, is best served when the company in focus has experienced transactions within the past half-year. Over the latest six-month time period, Matrix Service Co (NASDAQ:MTRX) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll go over the relationship between both of these indicators in other stocks similar to Matrix Service Co (NASDAQ:MTRX). These stocks are Argan, Inc. (NYSEAMEX:AGX), Dycom Industries, Inc. (NYSE:DY), Orion Marine Group, Inc. (NYSE:ORN), Layne Christensen Company (NASDAQ:LAYN), and Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD). All of these stocks are in the heavy construction industry and their market caps are closest to MTRX’s market cap.

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