Madison Square Garden, Match, Newell Brands: Why These Stocks Are Trending

Match Group Inc. (NASDAQ:MTCH) shares are down 1% despite analyst Kunal Madhukar upping his price target to $61 from $56. Although Madhukar states that his research suggests that Match could beat for Q3 versus the consensus, some traders could be selling due to the news that Tinder competitor Bumble could IPO to a softer-than-expected valuation. According to some, Bumble might IPO at a $1.1 billion valuation, versus previous estimates of as much as $1.5 billion. Match Group Inc. (NASDAQ:MTCH) operates Tinder, and a cheaper valuation for a competitor could affect sentiment for Match. There is also no guarantee that Match could will beat estimates. A total of 26 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 24% from one quarter earlier.

TravelCenters of America LLC (NASDAQ:TA) shares fell almost 10% on Monday after the company reported a softer than expected third quarter. For the period, TA reported EPS of $0.04 versus the consensus of $0.21 per share. Revenue was also lighter than expected at $1.66 billion (up 20.3%) versus the consensus $1.94 billion. Adjusted EBITDA rose 2.4% to $31.4 million while third quarter nonfuel gross margin crept up 3.4%.

TravelCenters of America LLC (NASDAQ:TA) was in 9 hedge funds’ portfolios at the end of the second quarter of 2018. TA shareholders have witnessed a decrease in hedge fund sentiment recently. There were 10 hedge funds in our database with TA holdings at the end of the previous quarter.

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