Trading Report: Today, Match Group Inc. (MTCH) Stock Rating Upgrade by Vetr Inc.

Today, Match Group Inc. (MTCH) Stock Rating Upgrade by Vetr Inc.

Match Group Inc. (NASDAQ:MTCH) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The brokerage presently has a $20.04 price objective on the stock. Vetr‘s price objective would suggest a potential upside of 11.52% from the stock’s current price.

MTCH has been the subject of several other research reports. Wells Fargo & Co. restated a “buy” rating on shares of Match Group in a research note on Monday, August 29th. JPMorgan Chase & Co. restated a “buy” rating and issued a $20.00 price target on shares of Match Group in a research note on Tuesday, September 27th. Deutsche Bank AG restated a “buy” rating and issued a $20.00 price target on shares of Match Group in a research note on Friday, October 21st. Axiom Securities reiterated a “buy” rating on shares of Match Group in a research note on Monday, August 22nd. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Match Group in a research note on Thursday, November 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $17.14.

Shares of Match Group (NASDAQ:MTCH) traded down 1.73% during trading on Monday, reaching $17.66. The company had a trading volume of 357,003 shares. The company has a market capitalization of $4.50 billion and a PE ratio of 34.29. Match Group has a 52 week low of $8.41 and a 52 week high of $19.74. The stock’s 50-day moving average price is $17.77 and its 200-day moving average price is $16.01.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The business earned $316.40 million during the quarter, compared to analysts’ expectations of $317.92 million. Match Group had a return on equity of 42.62% and a net margin of 11.38%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities analysts expect that Match Group will post $0.75 EPS for the current fiscal year.

In related news, Vice Chairman Sam Yagan sold 149,427 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $17.98, for a total value of $2,686,697.46. Following the sale, the insider now directly owns 25,722 shares in the company, valued at approximately $462,481.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.90% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Match Group by 24.4% in the second quarter. JPMorgan Chase & Co. now owns 4,735,305 shares of the company’s stock valued at $71,385,000 after buying an additional 929,784 shares during the period. Schroder Investment Management Group raised its stake in shares of Match Group by 1.2% in the third quarter. Schroder Investment Management Group now owns 2,783,297 shares of the company’s stock valued at $49,515,000 after buying an additional 33,114 shares during the period. Vanguard Group Inc. raised its stake in shares of Match Group by 31.8% in the second quarter. Vanguard Group Inc. now owns 2,750,269 shares of the company’s stock valued at $41,459,000 after buying an additional 663,037 shares during the period. Capital World Investors raised its stake in shares of Match Group by 8.0% in the second quarter. Capital World Investors now owns 1,350,227 shares of the company’s stock valued at $20,355,000 after buying an additional 100,227 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Match Group by 40.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,003,927 shares of the company’s stock valued at $17,860,000 after buying an additional 291,558 shares during the period. Hedge funds and other institutional investors own 17.34% of the company’s stock.

About Match Group

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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