Match Group Inc. (MTCH) Hits New 52-Week High at $16.34
Match Group Inc. (NASDAQ:MTCH)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $16.34 and last traded at $15.76, with a volume of 1,547,351 shares trading hands. The stock had previously closed at $15.01.
MTCH has been the topic of a number of research reports. SunTrust Banks Inc. initiated coverage on shares of Match Group in a research note on Wednesday, March 23rd. They issued a “buy” rating on the stock. Zacks Investment Research raised shares of Match Group from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Wednesday, April 6th. Axiom Securities reissued a “buy” rating and issued a $18.00 target price on shares of Match Group in a research note on Tuesday, April 19th. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $17.00 target price on shares of Match Group in a research note on Wednesday, May 4th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Match Group in a research note on Thursday, May 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Match Group currently has an average rating of “Hold” and a consensus target price of $14.92.
The firm has a 50-day moving average of $14.61 and a 200 day moving average of $12.52. The company has a market capitalization of $3.92 billion and a P/E ratio of 32.61.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $285.30 million for the quarter, compared to the consensus estimate of $281.92 million. Match Group’s quarterly revenue was up 21.4% on a year-over-year basis. On average, equities research analysts predict that Match Group Inc. will post $0.74 earnings per share for the current year.
In other Match Group news, Vice Chairman Sam Yagan sold 200,000 shares of the stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $13.24, for a total transaction of $2,648,000.00. Following the sale, the insider now owns 200,000 shares of the company’s stock, valued at approximately $2,648,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Other large investors recently modified their holdings of the company. J. Goldman & Co LP bought a new stake in shares of Match Group during the fourth quarter worth approximately $1,008,000. TD Asset Management Inc. acquired a new position in Match Group during the fourth quarter worth about $1,316,000. Cornerstone Capital Management Holdings LLC. acquired a new position in Match Group during the fourth quarter worth about $1,362,000. Morgan Stanley acquired a new position in Match Group during the fourth quarter worth about $1,720,000. Finally, First Trust Advisors LP acquired a new position in Match Group during the fourth quarter worth about $2,382,000.
Match Group, Inc is a provider of dating products. The Company operates in two segments: Dating and Non-dating. Its Dating segment provides dating products and the Company’s Non-dating segment provides various education services, including test preparation, academic tutoring and college counseling services.
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