Match Group (NASDAQ:MTCH) Shares Gap Up to $79.53

Match Group Inc (NASDAQ:MTCH)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $77.24, but opened at $79.53. Match Group shares last traded at $82.47, with a volume of 2,509,200 shares.

MTCH has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price objective on the stock in a research note on Wednesday, May 15th. BMO Capital Markets lifted their price target on shares of Match Group from $74.00 to $85.00 and gave the stock a “market perform” rating in a research note on Thursday, August 8th. Cowen set a $104.00 price target on shares of Match Group and gave the stock a “buy” rating in a research note on Wednesday, August 7th. ValuEngine upgraded shares of Match Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, SunTrust Banks lifted their price target on shares of Match Group from $62.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Match Group presently has a consensus rating of “Buy” and an average target price of $86.91.

The company has a debt-to-equity ratio of 11.10, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $75.51 and its two-hundred day simple moving average is $65.04. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 62.01, a P/E/G ratio of 2.81 and a beta of 0.27.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. Match Group had a net margin of 26.51% and a return on equity of 153.58%. The firm had revenue of $498.00 million for the quarter, compared to the consensus estimate of $489.16 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. The business’s revenue was up 18.2% compared to the same quarter last year. As a group, analysts predict that Match Group Inc will post 1.77 earnings per share for the current year.

In other news, insider Philip D. Eigenmann sold 4,328 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $70.87, for a total value of $306,725.36. Following the sale, the insider now owns 10,506 shares in the company, valued at approximately $744,560.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amanda Ginsberg sold 119,879 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $69.05, for a total transaction of $8,277,644.95. Following the completion of the sale, the chief executive officer now owns 211,784 shares in the company, valued at approximately $14,623,685.20. The disclosure for this sale can be found here. Insiders sold a total of 130,607 shares of company stock worth $9,034,034 in the last 90 days. 3.00% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Flagship Harbor Advisors LLC boosted its stake in shares of Match Group by 4.7% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 4,910 shares of the technology company’s stock valued at $330,000 after purchasing an additional 222 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Match Group by 0.7% in the 1st quarter. Rhumbline Advisers now owns 51,243 shares of the technology company’s stock valued at $2,901,000 after purchasing an additional 355 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Match Group by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 83,126 shares of the technology company’s stock valued at $4,706,000 after purchasing an additional 377 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of Match Group by 32.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,774 shares of the technology company’s stock valued at $100,000 after purchasing an additional 435 shares in the last quarter. Finally, Bluestein R H & Co. raised its holdings in shares of Match Group by 6.7% in the first quarter. Bluestein R H & Co. now owns 8,000 shares of the technology company’s stock valued at $453,000 after buying an additional 500 shares during the last quarter. Institutional investors own 22.04% of the company’s stock.

About Match Group (NASDAQ:MTCH)

Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.

Further Reading: Why is cost of goods sold important?

Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply