Zenyatta Capital Acquires $358,000 stake in Match Group (MTCH:NSD)

Match Group Inc. (MTCH:NSD) recently saw an influx of activity from institutional investors. Zenyatta Capital Management LP purchased 7,500 shares of the technology company’s stock, valued at approximately $358,000, in the third quarter.

Other notable investors such as Mine & Arao Wealth Creation & Management LLC, Zions Bancorporation N.A., SeaCrest Wealth Management LLC, Allworth Financial LP, and Institutional & Family Asset Management LLC also purchased large stakes in Match Group during the second and third quarters.

These investors now represent 93.53% of the company’s total stock ownership. With a new wave of institutional investors betting on the success of Match Group Inc the future looks promising for the technology company.

Match Group Stock Price Up 1.6 %

MTCH stock opened on Thursday at $45.68. The fifty day simple moving average of the stock is $44.57, while the 200 day simple moving average is $53.97. Match Group, Inc.’s 1-year low price is $38.64, while its 1-year high price is $128.87. The stock has a market capitalization of $12.76 billion, a PE ratio of 138.43, a PEG ratio of 0.69, and a beta of 1.24.

Quarterly Earnings Overview:

Match Group (MTCH:NSD) reported its most recent quarterly results report on November 1st. The technology business announced quarterly earnings per share of $0.45, $0.07 below the consensus forecast of $0.52.

The company’s quarterly sales were $809.55 million, compared to the average forecast of $793.03 million. Match Group Inc had a negative return on equity of 94.07% and a net margin of 3.39%. Analysts project that Match Group, Inc. will earn $1.40 per share for the current fiscal year.

Analyst Ratings:

Recently, a number of equity analysts have written reports on the stock.

KeyCorp increased their price target on shares of Match Group from $74.00 to $75.00 and assigned the stock a “overweight” rating.

Cowen decreased their price target on Match Group shares from $85.00 to $80.00.

Match Group Inc was first covered by Stifel Nicolaus in a research report. They assigned the business a “hold” rating and a $62.00 price target.

JPMorgan Chase & Co. decreased their target price on Match Group from $75.00 to $65.00 while maintaining a “overweight” rating on the stock.

Trust Financial lowered their price target on shares of Match Group from $68.00 to $56.00 and assigned the stock a “hold” rating.

Eight research analysts have assigned a hold rating to the stock, while eighteen have issued a buy rating. According to the data from Stock Target Advisor, Match stock has a consensus analyst ratings of “Strong Buy” with an average stock price target of $73.74 per share over the next 12 months.

Company Profile:

Match Group Inc. provides dating products worldwide. The company’s portfolio of brands includes Tinder, Match, Meetic, Ok Cupid, Hinge, Pairs, Plenty Of Fish, and Our Time, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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