Match Group, Inc. (MTCH) Lowered to Market Perform at UBS AG
UBS AG lowered shares of Match Group, Inc. (NASDAQ:MTCH) from an outperform rating to a market perform rating in a research report released on Thursday. They currently have $35.00 price target on the technology company’s stock, up from their prior price target of $28.00.
A number of other equities analysts have also weighed in on MTCH. BidaskClub upgraded shares of Match Group from a sell rating to a hold rating in a report on Thursday, July 13th. Aegis boosted their price objective on shares of Match Group from $22.00 to $23.00 and gave the stock an outperform rating in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Match Group from a hold rating to a sell rating in a report on Saturday, August 5th. Jefferies Group LLC restated a buy rating and issued a $28.00 price objective (up from $23.00) on shares of Match Group in a report on Thursday, August 31st. Finally, BMO Capital Markets restated a buy rating and issued a $21.00 price objective on shares of Match Group in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $30.03.
Shares of Match Group (NASDAQ MTCH) traded down $0.10 during midday trading on Thursday, reaching $28.46. 2,676,700 shares of the company were exchanged, compared to its average volume of 1,422,717. Match Group has a 52 week low of $15.42 and a 52 week high of $32.87. The stock has a market cap of $7,488.77, a price-to-earnings ratio of 48.41, a P/E/G ratio of 3.58 and a beta of 0.68. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.82 and a current ratio of 1.82.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Match Group had a return on equity of 30.58% and a net margin of 34.06%. The firm had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $329.19 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Match Group’s revenue was up 19.4% on a year-over-year basis. equities research analysts predict that Match Group will post 0.63 earnings per share for the current year.
In other news, Vice Chairman Sam Yagan sold 684,583 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $21.95, for a total transaction of $15,026,596.85. Following the completion of the sale, the insider now owns 464,963 shares of the company’s stock, valued at approximately $10,205,937.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Jared F. Sine sold 64,436 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the sale, the general counsel now directly owns 64,436 shares of the company’s stock, valued at approximately $1,318,360.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 902,498 shares of company stock valued at $19,287,878. 18.10% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC grew its position in shares of Match Group by 499.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock valued at $111,000 after acquiring an additional 5,333 shares during the period. Turner Investments LLC bought a new stake in shares of Match Group during the 3rd quarter valued at $162,000. BNP Paribas Arbitrage SA grew its position in shares of Match Group by 162.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,035 shares of the technology company’s stock valued at $163,000 after acquiring an additional 4,359 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Match Group by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock valued at $131,000 after acquiring an additional 519 shares during the period. Finally, D.A. Davidson & CO. bought a new stake in shares of Match Group during the 3rd quarter valued at $207,000. 19.95% of the stock is owned by hedge funds and other institutional investors.
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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