Royce & Associates’ Latest Moves: Matrix Service Co (MTRX) and Cache, Inc. (CACH)

Chuck Royce, the manager of Royce & Associates, has recently revealed two of his latest moves. In an amended filing with the Securities and Exchange Commission, Royce has disclosed a reduction in his fund’s ownership of Matrix Service Co (NASDAQ:MTRX) to 1.5 million shares, which account for 5.71% of the company’s common shares, from 3.02 million. In another move, Royce has almost tripled his fund’s stake in Cache, Inc. (NASDAQ:CACH) to 1.51 million share or 7% of the total number of shares outstanding.

Chuck Royce

Matrix Service Co (NASDAQ:MTRX) is also present in the portfolio of the legendary hedge fund manager Joel Greenblatt. His fund, Gotham Asset Management, has increased its stake by 67% to approximately 135,500 shares valued at $3.31 million during the fourth quarter of 2013. Cliff Asness and AQR Capital Management are also betting on this stock, having increased their stake by 71% during the same period. AQR currently holds 207,500 shares reportedly worth a little over $5 million.

A provider of construction and maintenance services for the oil and gas industry, Matrix Service Co (NASDAQ:MTRX) has a market cap of $909 million and does not pay a dividend. The stock has advanced 41% to a current price of $34.53 per share and is currently trading at a trailing Price to Earnings (P/E) ratio of 30.xx, which is a little higher than the industry average of 26.20. Matrix Service has reported revenues of $311 million and earnings per share (EPS) of $0.38 for the 2013 fourth quarter. Analysts estimate $333 million in revenues and EPS of $0.34 for the first quarter of 2014.

Cache, Inc. (NASDAQ:CACH) operates mall-based and online retailers of women’s clothing and accessories. The company has a market cap of $71 million and does not pay a dividend. For the 2013 fourth quarter, Cache posted revenues of $55.8 and a loss per share of $0.17, missing market expectations. 2014 first quarter is expected to bring revenues of $49.5 million and a loss per share of $0.35. So far this year the stock has tumbled 39% to a current price of $3.35  per share. It is touted mainly as a Buy with a mean price target of $7.33 per share.

Charles Davidson of Wexford Capital is also optimistic about the prospects of Cache, Inc. (NASDAQ:CACH), having increased his fund’s stake by 4% during Q4 of 2013. In its latest 13F filing, Wexford reported ownership of 1.08 million shares valued at $5.86 million. Thomas E. Lynch is betting big on this stock as well, as Cache, Inc. (NASDAQ:CACH) occupies 13.37% of the equity portfolio of Mill Road Capital Management. The fund held, at the end of 2013, 2.68 million shares worth approximately $14.5 million.

Disclosure: none.

Recommended reading:

Wexford Capital Ups Stake in Cache, Inc. (CACH) to 5%

Royce & Associates Reveals Moves in MKS Instruments, Inc. (MKSI), NN, Inc. (NNBR) & Others

Royce & Associates’ Latest Moves Also Involve R.G. Barry Corp. (DFZ), Atrion Corporation (ATRI) & Arden Group, Inc. (ARDNA)

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!