Match Group Inc (NASDAQ:MTCH) was down 17% on Wednesday . The stock traded as low as $40.76 and last traded at $42.72. Approximately 15,377,973 shares were traded during mid-day trading, an increase of 519% from the average daily volume of 2,484,166 shares. The stock had previously closed at $51.47.
Several research analysts have recently issued reports on the company. BidaskClub lowered Match Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 12th. Wells Fargo & Co reissued a “hold” rating and issued a $41.00 target price on shares of Match Group in a research report on Wednesday, August 8th. ValuEngine raised Match Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. BMO Capital Markets increased their target price on Match Group from $45.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Finally, Barclays increased their target price on Match Group from $39.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 9th. Ten analysts have rated the stock with a hold rating, ten 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 $50.01.
The company has a debt-to-equity ratio of 2.18, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market cap of $14.25 billion, a price-to-earnings ratio of 84.97, a P/E/G ratio of 3.32 and a beta of 0.74.
In other Match Group news, CFO Gary Swidler sold 105,611 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $49.57, for a total transaction of $5,235,137.27. Following the sale, the chief financial officer now directly owns 266,010 shares in the company, valued at approximately $13,186,115.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Jared F. Sine sold 27,343 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $48.51, for a total value of $1,326,408.93. Following the sale, the general counsel now owns 65,022 shares in the company, valued at $3,154,217.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,000 shares of company stock valued at $12,382,872. 7.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MTCH. Flagship Harbor Advisors LLC purchased a new stake in Match Group during the 2nd quarter valued at $111,000. Commonwealth Bank of Australia boosted its stake in Match Group by 155.6% during the 3rd quarter. Commonwealth Bank of Australia now owns 2,300 shares of the technology company’s stock valued at $133,000 after purchasing an additional 1,400 shares during the last quarter. Financial Architects Inc boosted its stake in Match Group by 410.3% during the 2nd quarter. Financial Architects Inc now owns 3,649 shares of the technology company’s stock valued at $141,000 after purchasing an additional 2,934 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in Match Group during the 2nd quarter valued at $150,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Match Group by 48.9% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 4,067 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,336 shares during the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.
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Match Group Company Profile (NASDAQ:MTCH)
Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.
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