Match Group Inc. (MTCH) Receives $16.90 Average PT from Analysts
Match Group Inc. (NASDAQ:MTCH) has been given an average recommendation of “Buy” by the fifteen analysts that are currently covering the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $17.10.
MTCH has been the subject of a number of recent analyst reports. Wells Fargo & Co. reiterated a “buy” rating on shares of Match Group in a report on Monday, August 29th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $20.00 price target on shares of Match Group in a report on Tuesday, September 27th. Axiom Securities reiterated a “buy” rating on shares of Match Group in a report on Monday, August 22nd. SunTrust Banks Inc. reiterated a “buy” rating and set a $20.00 price target (up from $18.00) on shares of Match Group in a report on Wednesday, October 12th. Finally, Zacks Investment Research upgraded Match Group from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Friday, July 15th.
In related news, insider Amarnath Thombre sold 122,802 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $15.38, for a total value of $1,888,694.76. Following the transaction, the insider now owns 122,802 shares of the company’s stock, valued at approximately $1,888,694.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Dawson sold 227,415 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $15.56, for a total transaction of $3,538,577.40. Following the completion of the transaction, the chief financial officer now directly owns 151,514 shares in the company, valued at approximately $2,357,557.84. The disclosure for this sale can be found here. 19.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Aperio Group LLC acquired a new position in shares of Match Group during the first quarter valued at $507,000. Pacad Investment Ltd. acquired a new position in shares of Match Group during the first quarter valued at $153,000. JPMorgan Chase & Co. boosted its position in shares of Match Group by 240.3% in the first quarter. JPMorgan Chase & Co. now owns 3,805,521 shares of the company’s stock valued at $42,089,000 after buying an additional 2,687,158 shares during the last quarter. Menta Capital LLC acquired a new position in shares of Match Group during the first quarter valued at $300,000. Finally, Alpine Partners VI LLC acquired a new position in shares of Match Group during the first quarter valued at $177,000. 15.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Match Group (NASDAQ:MTCH) opened at 17.88 on Wednesday. The company has a market cap of $4.50 billion and a price-to-earnings ratio of 37.64. Match Group has a 12-month low of $8.41 and a 12-month high of $18.21. The company’s 50-day moving average price is $16.69 and its 200 day moving average price is $14.70.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. The company earned $301.12 million during the quarter, compared to analyst estimates of $295.12 million. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts predict that Match Group will post $0.73 earnings per share for the current year.
About Match Group
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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