Match Group Inc. (MTCH) Sees Large Volume Increase
Match Group Inc. (NASDAQ:MTCH) shares saw an uptick in trading volume on Wednesday . 1,991,705 shares traded hands during mid-day trading, an increase of 28% from the previous session’s volume of 1,561,019 shares.The stock last traded at $16.75 and had previously closed at $16.50.
Several research firms have weighed in on MTCH. Axiom Securities reaffirmed a “buy” rating and issued a $18.00 target price on shares of Match Group in a research report on Tuesday, April 19th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Match Group in a research report on Thursday, May 5th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating and issued a $17.00 target price on shares of Match Group in a research report on Wednesday, May 4th. Susquehanna reaffirmed a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Match Group in a research report on Friday, May 6th. Finally, Zacks Investment Research downgraded Match Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $16.15.
The firm has a market capitalization of $4.24 billion and a PE ratio of 35.45. The firm has a 50 day moving average of $15.60 and a 200-day moving average of $12.94.
Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, July 26th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The business had revenue of $301.12 million for the quarter, compared to analysts’ expectations of $295.12 million. The company’s revenue was up 21.0% compared to the same quarter last year. On average, equities analysts forecast that Match Group Inc. will post $0.73 EPS for the current year.
In other news, insider Amarnath Thombre sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $16.08, for a total value of $482,400.00. Following the transaction, the insider now directly owns 3,942 shares in the company, valued at approximately $63,387.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey Dawson sold 227,415 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $15.56, for a total value of $3,538,577.40. Following the completion of the transaction, the chief financial officer now owns 151,514 shares in the company, valued at $2,357,557.84. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. RS Investment Management Co. LLC purchased a new position in Match Group during the fourth quarter worth approximately $15,810,000. Schroder Investment Management Group purchased a new position in Match Group during the fourth quarter worth approximately $15,585,000. Jennison Associates LLC purchased a new position in Match Group during the fourth quarter worth approximately $13,954,000. BlackRock Advisors LLC purchased a new position in Match Group during the fourth quarter worth approximately $12,326,000. Finally, River Road Asset Management LLC purchased a new position in Match Group during the fourth quarter worth approximately $8,735,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.