ProShare Advisors LLC Sells 20,102 Shares of Matthews International Corporation $MATW

ProShare Advisors LLC decreased its position in Matthews International Corporation (NASDAQ:MATW) by 6.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 274,706 shares of the company’s stock after selling 20,102 shares during the period. ProShare Advisors LLC’s holdings in Matthews International were worth $6,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Simplex Trading LLC lifted its position in Matthews International by 613.7% during the 2nd quarter. Simplex Trading LLC now owns 9,236 shares of the company’s stock valued at $220,000 after purchasing an additional 11,034 shares during the period. Kestrel Investment Management Corp bought a new stake in shares of Matthews International during the second quarter worth approximately $2,869,000. Allspring Global Investments Holdings LLC lifted its holdings in Matthews International by 7.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,000,398 shares of the company’s stock valued at $24,600,000 after buying an additional 70,645 shares during the period. Inspire Investing LLC boosted its stake in Matthews International by 12.6% in the second quarter. Inspire Investing LLC now owns 20,205 shares of the company’s stock valued at $483,000 after acquiring an additional 2,258 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Matthews International during the 2nd quarter worth $202,000. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on MATW. Wall Street Zen upgraded Matthews International from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of Matthews International in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Matthews International Trading Up 8.1%

NASDAQ:MATW opened at $25.63 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.66 and a debt-to-equity ratio of 1.35. Matthews International Corporation has a twelve month low of $18.50 and a twelve month high of $32.24. The company has a market cap of $789.17 million, a P/E ratio of -12.09 and a beta of 1.30. The business has a 50 day moving average price of $23.96 and a two-hundred day moving average price of $23.28.

Matthews International (NASDAQ:MATW) last announced its earnings results on Wednesday, February 16th. The company reported $0.68 EPS for the quarter. The business had revenue of $386.66 million during the quarter. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. As a group, analysts expect that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

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.