Matrix Service Co (NASDAQ:MTRX) Vice President and Chief Business Development and Strategy Officer, Kevin A. Durkin, has recently sold a total of 3,900 shares of company stock, according to the latest SEC filings. The transactions, which took place on March 22, 2024, amounted to approximately $51,249 in value.
The shares were sold at a weighted average price of $13.1409, with individual transactions occurring within a price range of $13.09 to $13.17. Following the sale, Durkin's remaining stake in the company consists of 72,231 shares of common stock, which includes 53,493 shares owned outright.
Matrix Service Co, a company specializing in construction and repair for the petroleum and petrochemical industries, has seen its executives actively participate in the trading of its shares. The sale by Durkin represents a notable transaction by a key member of the company's leadership team.
Investors and shareholders of Matrix Service Co can request detailed information from Durkin regarding the specific prices at which the shares were sold within the reported range. This sale reflects the ongoing financial activities of company insiders, providing investors with insights into executive confidence and potential future company performance.
InvestingPro Insights
As investors digest the recent insider sale by Matrix Service Co's Vice President and Chief Business Development and Strategy Officer, Kevin A. Durkin, it's crucial to consider the company's financial health and market performance. According to InvestingPro, Matrix Service Co holds more cash than debt on its balance sheet, which could be seen as a sign of financial stability. However, an InvestingPro Tip points out that the company suffers from weak gross profit margins, with a gross profit margin of just 5.43% over the last twelve months as of Q2 2024.
InvestingPro Data further reveals a challenging profitability outlook, with a negative P/E Ratio of -18.70 and an adjusted P/E Ratio for the last twelve months as of Q2 2024 at -17.03. Analysts tracked by InvestingPro do not anticipate Matrix Service Co will be profitable this year, aligning with the reported negative operating income margin of -3.29%.
On a more positive note, Matrix Service Co has experienced a high return over the last year with a 170.81% price total return, and a strong return over the last three months at 29.63%. These returns could be indicative of market sentiment and the company's potential for recovery. It's worth noting that Matrix Service Co does not pay a dividend to shareholders, which may influence investment decisions for those seeking income-generating stocks.
For those interested in a deeper dive into Matrix Service Co's financials and performance metrics, InvestingPro offers additional tips, with a total of 7 InvestingPro Tips available. Readers looking to access these insights, along with comprehensive analytics, can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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