Match Group Inc. (MTCH) Rating Reiterated by SunTrust Banks Inc.
Match Group Inc. (NASDAQ:MTCH)‘s stock had its “buy” rating reissued by analysts at SunTrust Banks Inc. in a research report issued to clients and investors on Wednesday. They currently have a $20.00 price objective on the stock, up from their prior price objective of $18.00. SunTrust Banks Inc.’s price objective indicates a potential upside of 14.03% from the company’s previous close.
Several other equities research analysts have also issued reports on the stock. Axiom Securities lifted their price target on shares of Match Group from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, September 30th. Zacks Investment Research lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th. Deutsche Bank AG lifted their price target on shares of Match Group from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. JPMorgan Chase & Co. upgraded shares of Match Group from a “neutral” rating to an “overweight” rating and set a $19.00 price target on the stock in a research note on Thursday, July 28th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Match Group in a research note on Monday, August 29th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. Match Group currently has an average rating of “Hold” and an average target price of $16.62.
Match Group (NASDAQ:MTCH) opened at 17.54 on Wednesday. The stock’s 50 day moving average price is $16.51 and its 200 day moving average price is $14.61. The company has a market capitalization of $4.42 billion and a price-to-earnings ratio of 36.93. Match Group has a 12-month low of $8.41 and a 12-month high of $18.20.
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Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The company earned $301.12 million during the quarter, compared to the consensus estimate of $295.12 million. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. On average, equities research analysts anticipate that Match Group will post $0.73 earnings per share for the current fiscal year.
In other Match Group news, insider Amarnath Thombre sold 122,802 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $15.38, for a total value of $1,888,694.76. Following the completion of the sale, the insider now owns 122,802 shares of the company’s stock, valued at approximately $1,888,694.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Dawson sold 227,415 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 151,514 shares of the company’s stock, valued at approximately $2,357,557.84. The disclosure for this sale can be found here. Corporate insiders own 19.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its stake in Match Group by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 57,045 shares of the company’s stock worth $860,000 after buying an additional 1,890 shares in the last quarter. AHL Partners LLP acquired a new stake in Match Group during the second quarter worth about $160,000. Panagora Asset Management Inc. increased its stake in Match Group by 6.8% in the second quarter. Panagora Asset Management Inc. now owns 323,387 shares of the company’s stock worth $4,875,000 after buying an additional 20,465 shares in the last quarter. Capital World Investors increased its stake in Match Group by 8.0% in the second quarter. Capital World Investors now owns 1,350,227 shares of the company’s stock worth $20,355,000 after buying an additional 100,227 shares in the last quarter. Finally, A.R.T. Advisors LLC increased its stake in Match Group by 13.3% in the second quarter. A.R.T. Advisors LLC now owns 42,027 shares of the company’s stock worth $633,000 after buying an additional 4,927 shares in the last quarter. 15.80% of the stock is owned by hedge funds and other institutional investors.
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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