Match Group Inc. (MTCH) Reaches New 52-Week High at $16.34
Shares of Match Group Inc. (NASDAQ:MTCH) hit a new 52-week high on Tuesday . The company traded as high as $16.34 and last traded at $15.76, with a volume of 1,547,351 shares traded. The stock had previously closed at $15.01.
A number of brokerages recently weighed in on MTCH. Axiom Securities reiterated a “buy” rating and set a $18.00 price target on shares of Match Group in a research note on Wednesday, May 4th. SunTrust Banks Inc. initiated coverage on shares of Match Group in a research note on Wednesday, March 23rd. They issued a “buy” rating for the company. JPMorgan Chase & Co. restated a “hold” rating on shares of Match Group in a research note on Thursday, May 5th. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $17.00 target price on shares of Match Group in a research note on Wednesday, May 4th. Finally, Zacks Investment Research cut shares of Match Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 26th. 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’s stock. Match Group has a consensus rating of “Hold” and an average price target of $14.92.
The stock’s 50-day moving average price is $14.51 and its 200 day moving average price is $12.48. The company has a market capitalization of $3.96 billion and a price-to-earnings ratio of 32.92.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company earned $285.30 million during the quarter, compared to the consensus estimate of $281.92 million. The business’s revenue was up 21.4% compared to the same quarter last year. Analysts forecast 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 Match Group stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $13.24, for a total value of $2,648,000.00. Following the completion of the sale, the insider now owns 200,000 shares in the company, valued at $2,648,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of hedge funds have added to or reduced their stakes in the stock. American Century Companies Inc. acquired a new stake in Match Group during the fourth quarter valued at $3,463,000. First Trust Advisors LP acquired a new stake in Match Group during the fourth quarter valued at $2,382,000. TD Asset Management Inc. acquired a new stake in Match Group during the fourth quarter valued at $1,316,000. Morgan Stanley acquired a new stake in Match Group during the fourth quarter valued at $1,720,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in Match Group during the fourth quarter valued at $1,362,000.
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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