Match Group (MTCH) Reaches New 52-Week High at $61.31

Shares of Match Group Inc (NASDAQ:MTCH) reached a new 52-week high on Monday . The company traded as high as $61.31 and last traded at $61.19, with a volume of 243245 shares trading hands. The stock had previously closed at $57.20.

A number of analysts have weighed in on MTCH shares. Zacks Investment Research upgraded Match Group from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, February 1st. Deutsche Bank cut Match Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $61.00 to $53.86 in a research report on Wednesday, February 6th. Jefferies Financial Group boosted their price target on Match Group to $64.00 and gave the company a “top pick” rating in a research report on Friday, February 8th. They noted that the move was a valuation call. BidaskClub cut Match Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 28th. Finally, BMO Capital Markets lifted their price objective on Match Group to $62.00 and gave the company an “outperform” rating in a report on Friday, February 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $53.37.

The firm has a market capitalization of $16.10 billion, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 2.65 and a beta of 0.57. The company has a debt-to-equity ratio of 12.04, a current ratio of 0.97 and a quick ratio of 0.97.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Wednesday, February 6th. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $457.00 million during the quarter, compared to the consensus estimate of $448.38 million. Match Group had a return on equity of 83.21% and a net margin of 27.48%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 EPS. Research analysts forecast that Match Group Inc will post 1.41 EPS for the current year.

In other news, President Sharmistha Dubey sold 39,773 shares of the company’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $57.60, for a total transaction of $2,290,924.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gary Swidler sold 158,795 shares of the company’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $57.88, for a total value of $9,191,054.60. Following the sale, the chief financial officer now owns 146,706 shares of the company’s stock, valued at $8,491,343.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 345,705 shares of company stock valued at $19,966,091. Insiders own 7.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Match Group by 0.3% during the 4th quarter. BlackRock Inc. now owns 2,883,109 shares of the technology company’s stock worth $123,309,000 after purchasing an additional 9,441 shares during the period. FMR LLC boosted its position in Match Group by 27.1% during the 4th quarter. FMR LLC now owns 2,288,741 shares of the technology company’s stock worth $97,890,000 after purchasing an additional 488,384 shares during the period. Macquarie Group Ltd. boosted its position in Match Group by 2.7% during the 3rd quarter. Macquarie Group Ltd. now owns 1,675,113 shares of the technology company’s stock worth $97,006,000 after purchasing an additional 44,411 shares during the period. First Trust Advisors LP boosted its position in Match Group by 40.9% during the 4th quarter. First Trust Advisors LP now owns 1,027,241 shares of the technology company’s stock worth $43,935,000 after purchasing an additional 298,046 shares during the period. Finally, Rehmann Capital Advisory Group boosted its position in Match Group by 20,381.6% during the 3rd quarter. Rehmann Capital Advisory Group now owns 578,810 shares of the technology company’s stock worth $9,995,000 after purchasing an additional 575,984 shares during the period. Institutional investors and hedge funds own 20.91% of the company’s stock.

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Match Group Company Profile (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.

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