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Ex-Dividend Reminder: CenturyLink, MKS Instruments and Matthews International
Wednesday, November 22, 10:01 AM ET, by Market News Video Staff

On 11/24/17, CenturyLink Inc (CTL), MKS Instruments Inc (MKSI), and Matthews International Corp (MATW) will ...

Analysts Predict 10% Gains Ahead For VIOO
Monday, December 11, 8:27 AM ET, by Market News Video Staff

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, ...

Ex-Dividend Reminder: Matthews International, MPLX and Shell Midstream Partners
Wednesday, January 31, 10:13 AM ET, by Market News Video Staff

On 2/2/18, Matthews International Corp (MATW), MPLX LP (MPLX), and Shell Midstream Partners LP (SHLX) ...

How The Pieces Add Up: FAB Targets $62
Monday, February 5, 9:58 AM ET, by Market News Video Staff

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, ...

MATW: Insiders vs. Shorts
Wednesday, February 14, 2:17 PM ET, by Market News Video Staff

The most recent short interest data was recently released for the 01/31/2018 settlement date, and ...

MATW: Insiders vs. Shorts

By Market News Video Staff, Wednesday, May 16, 2:23 PM ET
Play Video: What Short Interest Means


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The most recent short interest data was recently released for the 04/30/2018 settlement date, and Matthews International Corp (NASDAQ:MATW) is one of the most shorted stocks of the Russell 3000, based on 8.87 "days to cover" versus the median component at 5.00. There are a number of ways to look at short data, but one metric that we find particularly useful is the "days to cover" because it considers both the total shares short and the average daily volume of shares typically traded. The number of shares short is then divided by the average daily volume, to express the total number of trading days it would take to close out all of the open short positions if every share traded represented a short position being closed.

In the case of Matthews International Corp (NASDAQ:MATW), the total short interest at the 04/30/2018 settlement date was 1,247,435 shares, which compares to the average daily trading volume of just 140,601 shares, for a "days to cover" ratio of 8.87.

When short sellers eventually cover their positions, by definition there must be buying activity because a share that is currently sold short must be purchased to be covered. At the present levels of short interest, if from this point forward every single MATW share traded represented a short position being closed, then at the average daily volume of 140,601 shares it would only be during the 9th trading day that every short position would be closed.

So it would stand to reason that should some unexpectedly good news come out, and short sellers did not have 9 days of patience but instead wanted to cover their short positions very suddenly, that situation could result in sending the stock higher until the higher price produces enough sellers to generate the necessary volume to close out those positions quickly.

Matthews International Corp (NASDAQ:MATW) has something relatively rare for a stock with this much short interest, that being insiders taking the other side of the trade. Looking back over the trailing six month period, MATW has seen 2 different instances of insider buying, as summarized by the table below:

Purchased Insider Title Shares Price/Share Value
01/30/2018 Robert M. Marsh VP and Treasurer 3,000 $55.50 $166,500.00
01/31/2018 Robert M. Marsh VP and Treasurer 1,615 $55.46 $89,571.00
02/05/2018 Tunon Alvaro Garcia Director 1,000 $52.00 $52,000.00
05/07/2018 Tunon Alvaro Garcia Director 2,000 $50.00 $100,000.00

Below is a chart showing the "days to cover" for MATW over time:

And looking at the chart below, MATW's low point in its 52 week range is $47.70 per share, with $66.65 as the 52 week high point that compares with a last trade of $52.20.

Matthews International Corp Moving Averages Chart

In recent trading, shares of Matthews International Corp (NASDAQ:MATW) were changing hands at $52.20/share.


This Article's Word Cloud:   Alvaro   Corp   Director   Garcia   International   MATW   Marsh   Matthews   Robert   Treasurer   Tunon   average   because   being   below   buying   chart   close   closed   compares   cover   daily   data   date   days   every   fillColor   higher   interest   most   must   number   over   period   point   position   positions   recent   represented   sellers   share   shares   short   that   total   traded   trading   volume   with   would
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MATW: Insiders vs. Shorts | Market News Video | Copyright © 2008 - 2018, All Rights Reserved

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