Emerald Advisers Inc. PA lowered its holdings in shares of Matthews International Corporation (NASDAQ:MATW) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 254,870 shares of the company’s stock after selling 17,499 shares during the period. Emerald Advisers Inc. PA owned approximately 0.79% of Matthews International Corporation worth $15,866,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP grew its stake in Matthews International Corporation by 1,289.0% in the second quarter. Quantbot Technologies LP now owns 2,139 shares of the company’s stock valued at $131,000 after acquiring an additional 1,985 shares during the period. Riverhead Capital Management LLC grew its stake in Matthews International Corporation by 60.6% in the second quarter. Riverhead Capital Management LLC now owns 2,731 shares of the company’s stock valued at $167,000 after acquiring an additional 1,031 shares during the period. Victory Capital Management Inc. grew its stake in Matthews International Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,474 shares of the company’s stock valued at $213,000 after acquiring an additional 520 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Matthews International Corporation in the second quarter valued at approximately $220,000. Finally, Pinebridge Investments L.P. grew its stake in Matthews International Corporation by 0.8% in the second quarter. Pinebridge Investments L.P. now owns 4,242 shares of the company’s stock valued at $259,000 after acquiring an additional 35 shares during the period. 77.90% of the stock is owned by institutional investors and hedge funds.
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A number of brokerages have commented on MATW. BidaskClub cut Matthews International Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. FBR & Co reissued an “outperform” rating on shares of Matthews International Corporation in a research note on Tuesday, July 11th. Finally, Zacks Investment Research lowered Matthews International Corporation from a “hold” rating to a “sell” rating in a report on Saturday, September 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Matthews International Corporation presently has an average rating of “Hold” and a consensus target price of $83.50.
Matthews International Corporation Company Profile
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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