Match Group Inc. (MTCH) looking to reclaim success with recent performance

Match Group Inc. (NASDAQ: MTCH) stock jumped 0.68% on Tuesday to $47.30 against a previous-day closing price of $46.98. With 2.62 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.92 million shares. During the session, the Internet Content & Information company that operates in wider Communication Services sector, reached to the highest price of $47.42 whereas the lowest price it dropped to was $45.97. The 52-week range on MTCH shows that it touched its highest point at $143.65 and its lowest point at $40.23 during that stretch. It currently has a 1-year price target of $66.05. Beta for the stock currently stands at 0.82.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MTCH was down-trending over the past week, with a drop of -8.90%, but this was up by 11.19% over a month. Three-month performance dropped to -18.07% while six-month performance fell -34.11%. The stock lost -65.48% in the past year, while it has lost -64.23% so far this year. A look at the trailing 12-month EPS for MTCH yields 0.36 with Next year EPS estimates of 2.10. For the next quarter, that number is 0.47. This implies an EPS growth rate of -55.90% for this year and 51.33% for next year. EPS is expected to grow by 21.45% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 6.60%.

Float and Shares Shorts:

At present, 281.31 million MTCH shares are outstanding with a float of 277.55 million shares on hand for trading. On Oct 13, 2022, short shares totaled 10.72 million, which was 3.79% higher than short shares on Sep 14, 2022. In addition to Mr. Bernard Kim as the firm’s CEO & Director, Mr. Gary Swidler serves as its COO & CFO.

Institutional Ownership:

Through their ownership of 99.17% of MTCH’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.22% of MTCH, in contrast to 4.93% held by mutual funds. Shares owned by individuals account for 35.93%. As the largest shareholder in MTCH with 10.42% of the stake, The Vanguard Group, Inc. holds 29,486,072 shares worth 29,486,072. A second-largest stockholder of MTCH, Edgewood Management LLC, holds 18,394,460 shares, controlling over 6.50% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in MTCH, holding 14,912,734 shares or 5.27% stake. With a 3.07% stake in MTCH, the Advisors Inner Circle – Edgewood is the largest stakeholder. A total of 8,685,118 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 3.01% of MTCH stock, is the second-largest Mutual Fund holder. It holds 8,503,935 shares valued at 367.37 million. Vanguard Mid Cap Index Fund holds 2.34% of the stake in MTCH, owning 6,610,328 shares worth 285.57 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MTCH since 23 analysts follow the stock currently. There are 15 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MTCH analysts setting a high price target of $90.00 and a low target of $45.00, the average target price over the next 12 months is $66.05. Based on these targets, MTCH could surge 90.27% to reach the target high and fall by -4.86% to reach the target low. Reaching the average price target will result in a growth of 39.64% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MTCH will report FY 2022 earnings on 01/31/2023. Analysts have provided yearly estimates in a range of $1.49 being high and $1.28 being low. For MTCH, this leads to a yearly average estimate of $1.38. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Match Group Inc. surprised analysts by -$0.06 when it reported $0.44 EPS against a consensus estimate of $0.50. The surprise factor in the prior quarter was -$0.68. Based on analyst estimates, the high estimate for the next quarter is $0.58 and the low estimate is $0.37. The average estimate for the next quarter is thus $0.46.

Summary of Insider Activity:

Insiders traded MTCH stock several times over the past three months with 11 Buys and 4 Sells. In these transactions, 103,570 shares were bought while 48,695 shares were sold. The number of buy transactions has increased to 55 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 421,471 while 183,554 shares were sold.

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