Match Group Inc. (MTCH) Stock Price Down 2%
Match Group Inc. (NASDAQ:MTCH) shares dropped 2% during mid-day trading on Thursday . The company traded as low as $14.28 and last traded at $14.81, with a volume of 1,726,973 shares trading hands. The stock had previously closed at $15.11.
MTCH has been the subject of a number of recent research reports. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $17.00 price objective on shares of Match Group in a research note on Wednesday, May 4th. Axiom Securities reissued a “buy” rating and issued a $18.00 price target on shares of Match Group in a report on Wednesday, May 4th. Zacks Investment Research raised Match Group from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, April 6th. SunTrust Banks Inc. started coverage on Match Group in a report on Wednesday, March 23rd. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Match Group in a report on Thursday, May 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $14.92.
The stock has a market cap of $3.70 billion and a price-to-earnings ratio of 30.75. The stock has a 50 day moving average of $14.48 and a 200 day moving average of $12.49.
Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, May 3rd. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $285.30 million for the quarter, compared to analyst estimates of $281.92 million. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities analysts predict that Match Group Inc. will post $0.74 earnings per share for the current fiscal year.
In related news, Vice Chairman Sam Yagan sold 200,000 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $13.24, for a total transaction of $2,648,000.00. Following the sale, the insider now directly owns 200,000 shares of the company’s stock, valued at $2,648,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Other hedge funds have modified their holdings of the company. Jennison Associates LLC acquired a new stake in shares of Match Group during the fourth quarter valued at approximately $13,954,000. J. Goldman & Co LP acquired a new stake in shares of Match Group during the fourth quarter valued at approximately $1,008,000. Schroder Investment Management Group acquired a new stake in shares of Match Group during the fourth quarter valued at approximately $15,585,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Match Group during the fourth quarter valued at approximately $1,362,000. Finally, Morgan Stanley acquired a new stake in shares of Match Group during the fourth quarter valued at approximately $1,720,000.
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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