Here is What Hedge Funds Think About Matrix Service Co (MTRX)

As industrywide interest jumped, specific money managers were leading the bulls’ herd. Neil Chriss’ Hutchin Hill Capital established the most valuable position in Matrix Service Co (NASDAQ:MTRX). Hutchin Hill Capital had $0.9 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $0.3 million investment in the stock during the quarter. The following funds were also among the new MTRX investors: Matthew Tewksbury’s Stevens Capital Management, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s go over hedge fund activity in other stocks similar to Matrix Service Co (NASDAQ:MTRX). We will take a look at Waterstone Financial, Inc. (NASDAQ:WSBF), Seres Therapeutics Inc (NASDAQ:MCRB), NN, Inc. (NASDAQ:NNBR), and First Financial Corp (NASDAQ:THFF). This group of stocks’ market valuations match MTRX’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
WSBF 15 84996 2
MCRB 13 25183 -4
NNBR 7 46591 1
THFF 5 7444 0

As you can see these stocks had an average of 10 investors with bullish positions and the average amount invested in these stocks was $41 million. That figure was $68 million in MTRX’s case. Waterstone Financial, Inc. (NASDAQ:WSBF) is the most popular stock in this table. On the other hand First Financial Corp (NASDAQ:THFF) is the least popular one with only five bullish hedge fund positions. Matrix Service Co (NASDAQ:MTRX) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Waterstone Financial, Inc. (NASDAQ:WSBF) might be a better candidate to consider taking a long position in.

Disclosure: None