Match Group, Inc. (MTCH) Reaches New 12-Month High at $22.99
Match Group, Inc. (NASDAQ:MTCH)’s share price reached a new 52-week high on Tuesday . The company traded as high as $22.99 and last traded at $23.02, with a volume of 2,576,752 shares trading hands. The stock had previously closed at $22.35.
A number of equities analysts recently weighed in on the company. Vetr upgraded Match Group from a “buy” rating to a “strong-buy” rating and set a $21.09 price target for the company in a research report on Wednesday, May 17th. Zacks Investment Research lowered Match Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. BidaskClub lowered Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Jefferies Group LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Match Group in a research report on Thursday, June 22nd. Finally, Aegis increased their price target on Match Group from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. Match Group presently has an average rating of “Buy” and a consensus price target of $20.62.
The firm has a market capitalization of $6.14 billion, a PE ratio of 33.29 and a beta of 0.53. The company has a 50 day moving average price of $19.00 and a 200 day moving average price of $18.05.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by $0.03. Match Group had a return on equity of 34.49% and a net margin of 16.21%. The business had revenue of $309.57 million during the quarter, compared to the consensus estimate of $310.36 million. During the same quarter last year, the company earned $0.17 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. Equities research analysts predict that Match Group, Inc. will post $0.88 earnings per share for the current fiscal year.
In other Match Group news, General Counsel Jared F. Sine sold 64,436 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total value of $1,318,360.56. Following the completion of the sale, the general counsel now directly owns 64,436 shares in the company, valued at $1,318,360.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Sam Yagan sold 98,854 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $19.10, for a total value of $1,888,111.40. Following the completion of the sale, the insider now owns 84,391 shares of the company’s stock, valued at $1,611,868.10. The disclosure for this sale can be found here. Insiders sold 902,498 shares of company stock valued at $19,287,878 over the last 90 days. Corporate insiders own 18.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in MTCH. Cubist Systematic Strategies LLC increased its holdings in shares of Match Group by 499.8% in the second quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock worth $111,000 after acquiring an additional 5,333 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Match Group by 19.9% in the first quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock worth $114,000 after acquiring an additional 1,156 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Match Group by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock worth $131,000 after acquiring an additional 519 shares in the last quarter. TLP Group LLC bought a new stake in shares of Match Group in the first quarter worth about $154,000. Finally, Private Advisor Group LLC acquired a new position in shares of Match Group during the first quarter worth about $174,000. Institutional investors own 19.05% of the company’s stock.
Match Group Company Profile
Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.