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Investing in Matson Inc (MATX) Is Getting More Attractive

In a filing, Matson Inc revealed its EVP & CFO Wine Joel M unloaded Company’s shares for reported $1.57 million on Jul 02 ’24. In the deal valued at $129.73 per share,12,090 shares were sold. As a result of this transaction, Wine Joel M now holds 139,239 shares worth roughly $16.97 million.

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Then, COX MATTHEW J sold 7,843 shares, generating $1,023,854 in total proceeds. Upon selling the shares at $130.54, the Chairman & CEO now owns 230,397 shares.

Before that, Wine Joel M sold 8,941 shares. Matson Inc shares valued at $1,151,623 were divested by the EVP & CFO at a price of $128.80 per share. As a result of the transaction, Wine Joel M now holds 151,329 shares, worth roughly $18.45 million.

Wolfe Research upgraded its Matson Inc [MATX] rating to an Outperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who increased its forecast for the stock in mid November from “an Underperform” to “a Peer perform”. Wolfe Research began covering MATX with “an Underperform” recommendation on August 16, 2022. Stifel revised its rating on August 02, 2022. It rated MATX as “a Hold” which previously was an “a Buy”.

Price Performance Review of MATX

On Tuesday, Matson Inc [NYSE:MATX] saw its stock fall -1.92% to $121.89. Over the last five days, the stock has lost -5.57%. Matson Inc shares have risen nearly 11.21% since the year began. Nevertheless, the stocks have risen 59.98% over the past one year. While a 52-week high of $133.53 was reached on 06/25/24, a 52-week low of $76.03 was recorded on 05/01/24. SMA at 50 days reached $120.26, while 200 days put it at $107.79. A total of 0.28 million shares were traded, compared to the trading of 0.38 million shares in the previous session.

Levels Of Support And Resistance For MATX Stock

The 24-hour chart illustrates a support level at 120.88, which if violated will result in even more drops to 119.87. On the upside, there is a resistance level at 123.88. A further resistance level may holdings at 125.87. The Relative Strength Index (RSI) on the 14-day chart is 44.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.65%. Stochastics%K at 39.77% indicates the stock is a holding.

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