Match Group Inc. (MTCH) Given a $16.00 Price Target at Barclays PLC
MTCH has been the subject of several other reports. Wells Fargo & Co. reaffirmed a buy rating on shares of Match Group in a report on Monday, August 29th. JPMorgan Chase & Co. reissued a buy rating and issued a $20.00 price target on shares of Match Group in a report on Tuesday, September 27th. Axiom Securities reissued a buy rating on shares of Match Group in a report on Monday, August 22nd. SunTrust Banks Inc. reissued a buy rating and issued a $20.00 price target (up from $18.00) on shares of Match Group in a report on Wednesday. Finally, Zacks Investment Research raised shares of Match Group from a hold rating to a buy rating and set a $18.00 price target for the company in a report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $16.77.
Shares of Match Group (NASDAQ:MTCH) traded up 0.62% during mid-day trading on Thursday, hitting $17.85. 620,268 shares of the company traded hands. Match Group has a 1-year low of $8.41 and a 1-year high of $18.21. The firm’s 50 day moving average price is $16.62 and its 200-day moving average price is $14.65. The stock has a market capitalization of $4.49 billion and a PE ratio of 37.58.
Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The business earned $301.12 million during the quarter, compared to the consensus estimate of $295.12 million. The firm’s revenue was up 21.0% on a year-over-year basis. On average, equities research analysts forecast that Match Group will post $0.73 EPS for the current year.
In other news, Vice Chairman Sam Yagan sold 1,505,985 shares of Match Group stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $16.50, for a total transaction of $24,848,752.50. Following the sale, the insider now owns 143,372 shares of the company’s stock, valued at approximately $2,365,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Dawson sold 227,415 shares of Match Group stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $15.56, for a total transaction of $3,538,577.40. Following the sale, the chief financial officer now directly owns 151,514 shares in the company, valued at approximately $2,357,557.84. The disclosure for this sale can be found here. Insiders own 19.90% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Invictus RG bought a new stake in shares of Match Group during the first quarter worth $152,000. Pacad Investment Ltd. acquired a new stake in Match Group during the first quarter valued at approximately $153,000. AHL Partners LLP acquired a new stake in Match Group during the second quarter valued at approximately $160,000. Alpine Partners VI LLC acquired a new stake in Match Group during the first quarter valued at approximately $177,000. Finally, Parametric Portfolio Associates LLC raised its stake in Match Group by 0.5% in the second quarter. Parametric Portfolio Associates LLC now owns 14,338 shares of the company’s stock valued at $216,000 after buying an additional 65 shares during the last quarter. 15.80% of the stock is currently owned by hedge funds and other institutional investors.
About Match Group
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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