Match Group, Inc. (MTCH) Given New $28.00 Price Target at Citigroup Inc.
Match Group, Inc. (NASDAQ:MTCH) had its target price increased by Citigroup Inc. from $22.00 to $28.00 in a report released on Wednesday morning. Citigroup Inc. currently has a buy rating on the technology company’s stock.
MTCH has been the subject of a number of other reports. Aegis upped their target price on Match Group from $22.00 to $23.00 and gave the company an outperform rating in a research report on Thursday, August 3rd. BidaskClub raised Match Group from a sell rating to a hold rating in a research report on Thursday, July 13th. BMO Capital Markets reissued a buy rating and issued a $21.00 target price on shares of Match Group in a research report on Wednesday, September 13th. Jefferies Group LLC reissued a buy rating and issued a $28.00 target price (up from $23.00) on shares of Match Group in a research report on Thursday, August 31st. Finally, Zacks Investment Research cut Match Group from a hold rating to a sell rating in a research report on Saturday, August 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. Match Group presently has a consensus rating of Buy and a consensus target price of $23.19.
Shares of Match Group (MTCH) traded up 0.28% on Wednesday, hitting $25.27. The stock had a trading volume of 723,624 shares. The firm’s 50-day moving average price is $22.07 and its 200 day moving average price is $19.14. The firm has a market cap of $6.63 billion, a PE ratio of 35.95 and a beta of 0.56. Match Group has a 52-week low of $15.08 and a 52-week high of $25.52.
Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The firm had revenue of $309.57 million during the quarter, compared to analyst estimates of $310.36 million. Match Group had a net margin of 16.21% and a return on equity of 34.49%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. On average, equities research analysts predict that Match Group will post $0.79 EPS for the current year.
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In other news, General Counsel Jared F. Sine sold 64,436 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the completion of the transaction, the general counsel now directly owns 64,436 shares of the company’s stock, valued at approximately $1,318,360.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Sam Yagan sold 684,583 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $21.95, for a total value of $15,026,596.85. Following the transaction, the insider now directly owns 464,963 shares of the company’s stock, valued at $10,205,937.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 902,498 shares of company stock valued at $19,287,878. 18.10% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Match Group by 34.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock worth $108,945,000 after buying an additional 1,617,950 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Match Group by 0.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,377,345 shares of the technology company’s stock worth $93,457,000 after buying an additional 20,060 shares in the last quarter. Light Street Capital Management LLC purchased a new position in shares of Match Group during the 2nd quarter worth approximately $39,974,000. Voya Investment Management LLC raised its stake in shares of Match Group by 16.4% during the 2nd quarter. Voya Investment Management LLC now owns 1,674,074 shares of the technology company’s stock worth $29,095,000 after buying an additional 235,355 shares in the last quarter. Finally, Mik Capital LLC purchased a new position in shares of Match Group during the 2nd quarter worth approximately $23,043,000. 18.97% of the stock is owned by institutional investors and hedge funds.
Match Group Company Profile
Match Group, Inc, incorporated on February 13, 2009, is a provider of dating products. The Company operates in the Dating segment. The Dating segment consists of all of its dating businesses across the globe. As of March 31, 2017, the Company operated a portfolio of over 45 brands, including Match, Tinder, PlentyOfFish, Meetic, OkCupid, Pairs, Twoo, OurTime, BlackPeopleMeet and LoveScout24, each designed to manage its users’ likelihood of finding a romantic connection.
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