Matthews International (NASDAQ:MATW) Shares Gap Up – Should You Buy?

Shares of Matthews International Co. (NASDAQ:MATW) gapped up prior to trading on Friday . The stock had previously closed at $25.49, but opened at $29.75. Matthews International shares last traded at $31.11, with a volume of 113,004 shares trading hands.

Analyst Ratings Changes

Separately, B. Riley reduced their target price on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, September 26th.

Matthews International Trading Up 18.5 %

The firm has a fifty day moving average of $23.13 and a 200 day moving average of $25.23. The firm has a market capitalization of $924.43 million, a PE ratio of 36.14 and a beta of 1.06. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66.

Institutional Investors Weigh In On Matthews International

Large investors have recently added to or reduced their stakes in the company. Barclays PLC grew its stake in Matthews International by 375.4% in the third quarter. Barclays PLC now owns 52,823 shares of the company’s stock worth $1,225,000 after purchasing an additional 41,711 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Matthews International by 0.9% during the third quarter. Geode Capital Management LLC now owns 729,539 shares of the company’s stock worth $16,929,000 after acquiring an additional 6,536 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in Matthews International by 56.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 25,147 shares of the company’s stock worth $583,000 after purchasing an additional 9,082 shares during the last quarter. Jane Street Group LLC grew its position in Matthews International by 120.5% in the 3rd quarter. Jane Street Group LLC now owns 79,861 shares of the company’s stock worth $1,853,000 after purchasing an additional 43,650 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Matthews International by 6.8% during the third quarter. State Street Corp now owns 1,208,505 shares of the company’s stock valued at $28,037,000 after buying an additional 76,911 shares during the last quarter. 83.08% of the stock is owned by institutional investors and hedge funds.

Matthews International Company Profile

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.