Matthews International (NASDAQ:MATW) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Shares of Matthews International Co. (NASDAQ:MATW - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $25.45 and traded as high as $25.70. Matthews International shares last traded at $25.00, with a volume of 286,359 shares traded.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their target price on shares of Matthews International from $54.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, September 26th.

Matthews International Price Performance

The company has a market capitalization of $746.64 million, a price-to-earnings ratio of 29.05 and a beta of 1.06. The firm has a 50-day simple moving average of $23.09 and a two-hundred day simple moving average of $25.45. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64.

Institutional Investors Weigh In On Matthews International

Institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC raised its position in shares of Matthews International by 20.2% during the 1st quarter. ProShare Advisors LLC now owns 266,146 shares of the company's stock valued at $8,272,000 after buying an additional 44,798 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Matthews International by 8.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 708,352 shares of the company's stock worth $16,434,000 after purchasing an additional 55,687 shares in the last quarter. Barington Capital Group L.P. lifted its holdings in shares of Matthews International by 18.1% in the 2nd quarter. Barington Capital Group L.P. now owns 385,000 shares of the company's stock valued at $9,644,000 after purchasing an additional 59,000 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Matthews International by 136.2% in the 2nd quarter. AQR Capital Management LLC now owns 23,239 shares of the company's stock valued at $582,000 after purchasing an additional 13,399 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Matthews International by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,771 shares of the company's stock worth $2,138,000 after buying an additional 1,063 shares during the last quarter. 83.08% of the stock is currently owned by institutional investors and hedge funds.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.