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)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

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!