Match Group Inc. (MTCH) Stock Price Up 3.8%
Match Group Inc. (NASDAQ:MTCH)’s share price rose 3.8% on Friday . The stock traded as high as $15.44 and last traded at $15.29, with a volume of 1,216,052 shares changing hands. The stock had previously closed at $14.73.
MTCH has been the subject of several analyst reports. 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. Axiom Securities reissued a “buy” rating and issued a $18.00 target price on shares of Match Group in a research note on Wednesday, May 4th. Deutsche Bank AG raised their target price on shares of Match Group from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Zacks Investment Research raised shares of Match Group from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Friday, July 15th. Finally, SunTrust Banks Inc. reissued a “buy” rating and issued a $18.00 target price (up from $15.00) on shares of Match Group in a research note on Friday, July 15th. Two equities 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 company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.15.
The stock’s 50 day moving average price is $15.77 and its 200 day moving average price is $13.10. The firm has a market capitalization of $4.00 billion and a P/E ratio of 33.45.
Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, July 26th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $301.12 million for the quarter, compared to analyst estimates of $295.12 million. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts forecast that Match Group Inc. will post $0.73 EPS for the current year.
In related news, CFO Jeffrey Dawson sold 227,415 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 151,514 shares of the company’s stock, valued at approximately $2,357,557.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Sam Yagan sold 200,000 shares of the 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 directly owns 200,000 shares of the company’s stock, valued at $2,648,000. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. bought a new stake in Match Group during the fourth quarter worth approximately $1,362,000. Jennison Associates LLC bought a new stake in Match Group during the fourth quarter worth approximately $13,954,000. Finally, RS Investment Management Co. LLC bought a new stake in Match Group during the fourth quarter worth approximately $15,810,000.
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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