Match Group (NASDAQ:MTCH) Reaches New 12-Month High - What's Next?

Key Points

• Match Group shares reached a new 52-week high of $41.32, trading above both their 50-day and 200-day moving averages. The stock has a market capitalization of approximately $9.57 billion.
• Analyst sentiment remains mixed, with six Buy ratings and nine Holds; the average rating is Hold and the average price target is $41.29. TD Cowen is the most bullish, raising its target to $44.
• Match Group beat quarterly expectations, reporting EPS of $0.68 versus the $0.61 consensus and revenue of $863.93 million. Revenue increased 3.9% year over year, while institutional investors own 94.05% of the stock.

Match Group Inc. (NASDAQ:MTCH - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.32 and last traded at $41.1860, with a volume of 394290 shares traded. The stock had previously closed at $40.54.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Match Group from $33.00 to $39.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Weiss Ratings raised Match Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. UBS Group boosted their price target on Match Group from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Wall Street Zen raised Match Group from a "hold" rating to a "buy" rating in a report on Sunday, April 26th. Finally, TD Cowen raised their price objective on Match Group from $37.00 to $44.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $41.29.

Match Group Stock Performance

The business's 50 day moving average price is $37.16 and its 200-day moving average price is $34.23. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.63 and a beta of 1.30.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. The business had revenue of $863.93 million for the quarter, compared to analyst estimates of $854.70 million. Match Group had a net margin of 18.83% and a negative return on equity of 307.45%. The firm's revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 EPS. On average, equities research analysts expect that Match Group Inc. will post 3.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Match Group

In other news, Director Melissa Anne Brenner sold 5,141 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $35.94, for a total value of $184,767.54. Following the sale, the director directly owned 16,218 shares in the company, valued at approximately $582,874.92. This represents a 24.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.71% of the company's stock.

Institutional Trading of Match Group

Large investors have recently bought and sold shares of the stock. Woodline Partners LP acquired a new stake in shares of Match Group in the 1st quarter valued at $662,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Match Group by 20.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,260 shares of the technology company's stock valued at $162,000 after purchasing an additional 891 shares during the last quarter. First Trust Advisors LP lifted its holdings in Match Group by 45.9% during the 2nd quarter. First Trust Advisors LP now owns 649,721 shares of the technology company's stock valued at $20,070,000 after purchasing an additional 204,472 shares during the last quarter. Amundi boosted its position in Match Group by 1,477.6% in the second quarter. Amundi now owns 358,709 shares of the technology company's stock valued at $11,637,000 after buying an additional 335,971 shares in the last quarter. Finally, Cresset Asset Management LLC acquired a new position in Match Group in the second quarter valued at about $298,000. 94.05% of the stock is currently owned by institutional investors.

Match Group Company Profile

Match Group, Inc NASDAQ: MTCH is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.

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