Match Group (MTCH) Reaches New 12-Month High at $43.07

Shares of Match Group Inc (NASDAQ:MTCH) hit a new 52-week high during trading on Wednesday . The company traded as high as $43.07 and last traded at $42.10, with a volume of 1826400 shares traded. The stock had previously closed at $42.10.

A number of analysts have recently commented on MTCH shares. Wells Fargo & Co reissued a “buy” rating on shares of Match Group in a research report on Tuesday, November 7th. Zacks Investment Research cut Match Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Piper Jaffray Companies reissued an “overweight” rating and issued a $33.00 price target (up from $28.00) on shares of Match Group in a research report on Wednesday, November 8th. UBS Group cut Match Group from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $28.00 to $35.00 in a research report on Thursday, November 9th. Finally, Citigroup reissued a “buy” rating and issued a $35.00 price target on shares of Match Group in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $36.51.

The firm has a market capitalization of $11,700.00 and a price-to-earnings ratio of 35.14. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.40.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, February 6th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). The company had revenue of $379.00 million for the quarter, compared to analysts’ expectations of $362.86 million. Match Group had a net margin of 26.31% and a return on equity of 30.34%. Match Group’s quarterly revenue was up 28.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. sell-side analysts predict that Match Group Inc will post 0.91 earnings per share for the current fiscal year.

In other news, Director Ann Mcdaniel sold 11,119 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $30.62, for a total transaction of $340,463.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Sharmistha Dubey sold 141,149 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $37.99, for a total transaction of $5,362,250.51. Following the sale, the president now directly owns 78,650 shares of the company’s stock, valued at approximately $2,987,913.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 252,310 shares of company stock valued at $9,825,116. Company insiders own 18.10% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its position in shares of Match Group by 15.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 119,865 shares of the technology company’s stock valued at $2,084,000 after acquiring an additional 16,401 shares during the period. Private Advisor Group LLC grew its position in shares of Match Group by 122.3% during the 3rd quarter. Private Advisor Group LLC now owns 27,539 shares of the technology company’s stock valued at $697,000 after acquiring an additional 15,150 shares during the period. Commonwealth Bank of Australia grew its position in shares of Match Group by 77.4% during the 3rd quarter. Commonwealth Bank of Australia now owns 35,300 shares of the technology company’s stock valued at $814,000 after acquiring an additional 15,400 shares during the period. GMT Capital Corp grew its position in shares of Match Group by 20.6% during the 3rd quarter. GMT Capital Corp now owns 612,200 shares of the technology company’s stock valued at $14,197,000 after acquiring an additional 104,500 shares during the period. Finally, Macquarie Group Ltd. bought a new stake in shares of Match Group during the 3rd quarter valued at $8,039,000. 21.35% of the stock is owned by hedge funds and other institutional investors.

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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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