Match Group Inc. (NASDAQ: MTCH) shares slid back in value Tuesday Dec 13 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, the Dow DJIA, +0.47% climbed 106 points, or 0.6%, to 19,905. If the Dow finishes higher, it will notch its seventh straight gain.
The S&P 500 index SPX, +0.56% gained 10.45 points, or 0.5%, to 2,267 and the tech-heavy Nasdaq Composite Index COMP, +1.02% added 48 points, or 0.9%, to 5,461.
Both the S&P 500 index SPX, +0.56% and Nasdaq Composite COMP, +1.02% ended lower on Monday, with investors appearing reluctant to push shares higher ahead of the Fed meeting
Analysts at Vetr Inc. upgraded shares of Match Group Inc. (NASDAQ: MTCH) from Buy to Strong-Buy today. The company currently has a rating of Strong-Buy on the stock. The one-year price target of $18.69 is higher than the opening price of $17.95, resulting a fair amount of other analysts to report on the stock in recent days. Looking back over the last year, Match Group Inc. stock has a high of $19.74. Typically, after analysts publish an upgrade report on a stock, they will subsequently issue recurring revisions, usually followed by a price target change.
Match Group Inc. (NASDAQ: MTCH) shares last traded at $17.87, which is a drop of $0.06 per share or -0.33% compared to the previous closing price. Opening at $17.95, they varied from $17.75 and $18.06 throughout the day.
Match Group Inc. (NASDAQ: MTCH) now has a market cap of 4.55B.
Match Group Inc. (NASDAQ: MTCH) Average Daily Trading Volume
The stock’s average daily volume is 1,214,860 shares out of a total float 43,416,000 and some 113,505 shares traded hands yesterday, below the average. Momentum traders often use increases in trading volume to identify heavy volume growth or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
While an increase in trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive cue to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have teams of analysts that research thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Match Group Inc. (NASDAQ: MTCH) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Match Group Inc. (NASDAQ: MTCH) now has a 50-day MA of $17.67 and 200-day MA of $16.37. It has traded in a 52-week range between $8.41 – 19.74 and today’s last price is 9.47%% lower than the 52 week high of $19.74.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors watch for companies that have been successful at growing their earnings by at least 25% over a 3 year period.
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