Match Group, Inc. (MTCH) Hits New 1-Year High at $22.99
Shares of Match Group, Inc. (NASDAQ:MTCH) 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. The stock had previously closed at $22.35.
A number of analysts have recently weighed in on MTCH shares. BidaskClub lowered shares of Match Group from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Vetr upgraded shares of Match Group from a “buy” rating to a “strong-buy” rating and set a $21.09 target price for the company in a report on Wednesday, May 17th. Zacks Investment Research downgraded shares of Match Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $23.00 price target on shares of Match Group in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $20.62.
The firm’s 50 day moving average is $19.32 and its 200 day moving average is $18.15. The stock has a market capitalization of $6.10 billion, a P/E ratio of 33.10 and a beta of 0.53.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.03. Match Group had a net margin of 16.21% and a return on equity of 34.49%. The company had revenue of $309.57 million for the quarter, compared to analyst estimates of $310.36 million. During the same quarter in the previous year, the company posted $0.17 EPS. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts forecast that Match Group, Inc. will post $0.88 EPS for the current fiscal year.
In other news, Vice Chairman Sam Yagan sold 684,583 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $21.95, for a total value of $15,026,596.85. Following the sale, the insider now owns 464,963 shares in the company, valued at $10,205,937.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Jared F. Sine sold 64,436 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the completion of the sale, the general counsel now owns 64,436 shares in the company, valued at approximately $1,318,360.56. The disclosure for this sale can be found here. Insiders sold 902,498 shares of company stock worth $19,287,878 in the last quarter. Company insiders own 18.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Mik Capital LLC acquired a new stake in shares of Match Group in the second quarter worth $23,043,000. Clinton Group Inc. increased its stake in shares of Match Group by 23.8% in the first quarter. Clinton Group Inc. now owns 163,019 shares of the technology company’s stock worth $2,662,000 after acquiring an additional 31,350 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Match Group by 9.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 103,464 shares of the technology company’s stock worth $1,690,000 after acquiring an additional 9,357 shares during the period. Stifel Financial Corp increased its stake in shares of Match Group by 23.5% in the first quarter. Stifel Financial Corp now owns 35,570 shares of the technology company’s stock worth $580,000 after acquiring an additional 6,770 shares during the period. Finally, Soros Fund Management LLC increased its stake in shares of Match Group by 144.0% in the first quarter. Soros Fund Management LLC now owns 36,600 shares of the technology company’s stock worth $598,000 after acquiring an additional 21,600 shares during the period. Hedge funds and other institutional investors own 19.05% of the company’s stock.
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About Match Group
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.
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