Match Group Inc. (NASDAQ:MTCH) had its target price upped by equities research analysts at Axiom Securities from $18.00 to $21.00 in a research note issued on Friday. The brokerage currently has a “buy” rating on the stock. Axiom Securities’ target price suggests a potential upside of 18.71% from the stock’s current price.
Several other equities analysts have also issued reports on MTCH. JPMorgan Chase & Co. raised shares of Match Group from a “neutral” rating to an “overweight” rating and set a $19.00 price target on the stock in a report on Thursday, July 28th. Zacks Investment Research lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday, July 30th. SunTrust Banks Inc. reaffirmed a “buy” rating and issued a $18.00 price target (up from $15.00) on shares of Match Group in a report on Friday, July 15th. Deutsche Bank AG lifted their price target on shares of Match Group from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Wells Fargo & Co. reaffirmed a “buy” rating on shares of Match Group in a report on Monday, August 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $16.46.
Match Group (NASDAQ:MTCH) opened at 17.69 on Friday. Match Group has a one year low of $8.41 and a one year high of $18.20. The stock has a market cap of $4.45 billion and a P/E ratio of 37.24. The company’s 50-day moving average price is $16.17 and its 200-day moving average price is $14.35.
Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The firm earned $301.12 million during the quarter, compared to analysts’ expectations of $295.12 million. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. Analysts forecast that Match Group will post $0.73 EPS for the current fiscal year.
In other Match Group news, Vice Chairman Sam Yagan sold 1,505,985 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $16.50, for a total value of $24,848,752.50. Following the completion of the transaction, the insider now owns 143,372 shares in the company, valued at $2,365,638. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Amarnath Thombre sold 2,632 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $16.76, for a total transaction of $44,112.32. Following the completion of the transaction, the insider now owns 2,632 shares of the company’s stock, valued at approximately $44,112.32. The disclosure for this sale can be found here. Corporate insiders own 19.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Ulysses Management LLC increased its position in shares of Match Group by 21.6% in the first quarter. Ulysses Management LLC now owns 913,500 shares of the company’s stock worth $10,103,000 after buying an additional 162,500 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Match Group during the first quarter worth $492,000. Envestnet Asset Management Inc. increased its position in shares of Match Group by 73.8% in the first quarter. Envestnet Asset Management Inc. now owns 11,840 shares of the company’s stock worth $131,000 after buying an additional 5,026 shares during the period. Invictus RG purchased a new position in shares of Match Group during the first quarter worth $152,000. Finally, Geode Capital Management LLC increased its position in shares of Match Group by 571.8% in the first quarter. Geode Capital Management LLC now owns 221,387 shares of the company’s stock worth $2,448,000 after buying an additional 188,433 shares during the period. Institutional investors and hedge funds own 15.80% of the company’s stock.
Match Group Company Profile
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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