Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Matson Inc. shares valued at $16,250 were sold by Kinney Richard S on Dec 16. At $60.41 per share, Kinney Richard S sold 269 shares. The insider’s holdings dropped to 8,331 shares worth approximately $0.54 million following the completion of this transaction.
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Also, COX MATTHEW J sold 7,500 shares, netting a total of over 494,701 in proceeds. Following the sale of shares at $65.96 each, the insider now holds 230,739 shares.
Before that, Lauer John P had sold 2,000 shares from its account. In a trade valued at $136,811, the EVP & Chief Commercial Officer traded Matson Inc. shares for $68.41 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $2.18 million.
As published in a research note from Wolfe Research on November 17, 2022, Matson Inc. [MATX] has been rated up from an Underperform to a Peer perform. Analysts at Wolfe Research started covering the stock with ‘”an Underperform”‘ outlook in a report released in mid August. As of August 02, 2022, Stifel has decreased its “Buy” rating to a “Hold” for MATX. Earlier on April 29, 2021, Stephens downgraded its rating. Their new recommendation was “an Equal-weight” for MATX stock which previously was a “an Overweight”.
Analyzing MATX Stock Performance
On Wednesday, Matson Inc. [NYSE: MATX] plunged -1.24% to $64.58. The stock’s lowest price that day was $61.79, but it reached a high of $64.625 in the same session. During the last five days, there has been a drop of approximately -6.16%. Over the course of the year, Matson Inc. shares have jumped approximately 3.31%. Shares of the company reached a 52-week high of $71.43 on 02/03/23 and a 52-week low of $58.06 on 01/19/23. A 50-day SMA is recorded $64.57, while a 200-day SMA reached $72.70. Nevertheless, trading volume fell to 0.69 million shares from 0.39 million shares the previous day.
Support And Resistance Levels for Matson Inc. (MATX)
According to the 24-hour chart, there is a support level at 62.71, which, if violated, would cause prices to drop to 60.83. In the upper region, resistance lies at 65.54. The next price resistance is at 66.50. RSI (Relative Strength Index) is 42.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.12, which suggests the price will decrease in the coming days. Percent R is at 71.06%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Matson Inc. subject to short interest?
Stocks of Matson Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.17 million shares to 1.28 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 1.11 million shares. A jump of 13.28% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.38 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.38.
Which companies own the most shares of Matson Inc. (MATX)?
According to BlackRock Fund Advisors filings, the company currently owns 5,897,727 shares, which is about 15.61% of the total MATX shares outstanding. The investor’s shares have plunged by -31,365 from its previous 13-F filing of 5929092.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $290,082,590. Dimensional Fund Advisors LP acquire a 10.95% interest valued at $160.81 million while ArrowMark Colorado Holdings LLC sold a -650,696 stake. A total of -26,246 shares of Matson Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 102,947 were bought by Fuller & Thaler Asset Management,. In its current portfolio, Capital Research & Management Co holds 1,149,533 shares valued at $76.01 million.
In terms of Matson Inc. share price expectations, FactSet research, analysts set an average price target of $71.50 in the next 12 months, up nearly 9.34% from the previous closing price of $65.39. Analysts anticipate Matson Inc. stock to reach $73.00 by 2023, with the lowest price target being $70.00. In spite of this, 3 analysts ranked Matson Inc. stock as a Hold at the end of 2023. On April 29, 2021, Stephens assigned a price target of “an Equal-weight” to the stock and downgraded coverage with a $70.