SSgA Funds Management, Inc. has recently announced that it has increased stake in Match Group Inc. (NASDAQ:MTCH) by 0.07%. After grabbing 13.22 million shares, the institutional investor is now in possession of 9314.0 shares of the Communication Services Company. The new investment brought the stake of investor firm to 4.87% having worth around $428.22 million. Moreover, Wellington Management Co. LLP increased its share by 2.13 million to have a control over 8.28 million shares. And TIAA-CREF Investment Management L raised its holdings to 1.51 million shares by acquiring 7.76 million shares or 2.86% of the stake.
Match Group Inc. (MTCH) concluded trading on 12/27/23 at a closing price of $35.81, with 5.04 million shares of worth about $180.62 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -14.64% during that period and on Wednesday the price saw a gain of about 1.22%. Currently the company’s common shares owned by public are about 279.63M shares, out of which, 270.33M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 68 times over the past 12 months. They bought 280,378 shares in 47 of the transactions. In 21 selling transactions, insiders dumped 135,649 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Match Group Inc. Vanguard Total Stock Market ETF is currently holding 8.69 million shares of worth totaling $281.54 million. The company recently came buying 10843.0 shares which brought its stake up to 3.20% of the company’s outstanding shares. Vanguard 500 Index Fund bought 29510.0 shares, after which its hold over company’s outstanding shares expand to 2.47%, leaving 6.71 million shares with the mutual fund that have a worth of about $217.36 million. Vanguard Mid Cap Index Fund, after selling 6.29 million shares, have now control over 2.32% of the stake in the company. It holds 5831.0 shares of worth $203.79 million.
Match Group Inc. (NASDAQ: MTCH) started trading at $35.41, above $0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 35.86, or with a gain of 1.22%. Stock saw a price change of 3.26% in past 5 days and over the past one month there was a price change of 13.14%. Year-to-date (YTD), MTCH shares are showing a performance of -13.69% which decreased to -11.75% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $27.85 but also hit the highest price of $54.60 during that period. The average intraday trading volume for Match Group Inc. shares is 5.81 million. The stock is currently trading 7.17% above its 20-day simple moving average (SMA20), while that difference is up 8.92% for SMA50 and it goes to -6.37% lower than SMA200.
SSgA Funds Management, Inc. acquired 13.22 million shares of Match Group Inc. having value of about $428.22 million. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 9314.0 shares in the company valued at close to $333534.34, or have control over 0.07% stake in the company. Match Group Inc. (NASDAQ: MTCH) currently have 279.63M outstanding shares and institutions hold larger chunk of about 98.78% of that. Holding of mutual funds in the company is about 5.20% while other institutional holders and individual stake holders have control over 57.83% and 42.05% of the stake respectively.
The stock has a current market capitalization of $9.73B and its 3Y-monthly beta is at 1.23. PE ratio of stock for trailing 12 months is 20.37, while it has posted earnings per share of $1.76 in the same period. Its PEG reads 0.78 and has Quick Ratio of 1.96. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MTCH, volatility over the week remained 2.54% while standing at 3.03% over the month.
Analysts are in expectations that Match Group Inc. (MTCH) stock would likely to be making an EPS of $0.49 in the current quarter, while forecast for next quarter EPS is $0.49 and it is $2.18 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.45 which is $0.54 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.3 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 55.62% while it is estimated to increase by 13.39% in next year. EPS is likely to grow at an annualized rate of 26.12% for next 5-years, compared to annual growth of 0.82% made by the stock over the past 5-years.
Analysts at 28 brokerage firms have issued recommendations for the Match Group Inc. (MTCH)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.82. Out of those 28 Wall Street analysts, 15 recommended a “Buy” rating, while 10 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on December 07, 2023 offering an Equal weight rating for the stock and assigned a target price of $32 to it.
