Match Group, Inc. (MTCH) Price Target Raised to $35.00 at Jefferies Group LLC
Match Group, Inc. (NASDAQ:MTCH) had its target price boosted by Jefferies Group LLC from $30.00 to $35.00 in a research note issued to investors on Thursday morning, The Fly reports. Jefferies Group LLC currently has a buy rating on the technology company’s stock.
Other equities research analysts have also recently issued reports about the stock. UBS AG cut shares of Match Group from an outperform rating to a market perform rating and raised their target price for the stock from $28.00 to $35.00 in a research report on Thursday. BMO Capital Markets reissued an outperform rating and set a $30.00 price target (up from $21.00) on shares of Match Group in a research report on Friday, October 13th. Cowen and Company reissued an outperform rating and set a $28.00 price target (up from $22.00) on shares of Match Group in a research report on Friday, October 13th. Piper Jaffray Companies reissued an overweight rating and set a $33.00 price target (up from $28.00) on shares of Match Group in a research report on Wednesday, November 8th. Finally, Citigroup Inc. reissued a buy rating and set a $35.00 price target on shares of Match Group in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Match Group has an average rating of Hold and an average target price of $30.72.
Match Group (MTCH) traded down $0.10 during trading hours on Thursday, hitting $28.46. 2,676,700 shares of the stock traded hands, compared to its average volume of 2,015,951. Match Group has a 12-month low of $15.42 and a 12-month high of $32.87. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $7,462.55, a PE ratio of 48.24, a price-to-earnings-growth ratio of 3.59 and a beta of 0.68.
Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, November 7th. The technology company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). Match Group had a return on equity of 31.18% and a net margin of 34.06%. The company had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $329.19 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. equities research analysts expect that Match Group will post 0.63 earnings per share for the current fiscal year.
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In other Match Group news, Vice Chairman Sam Yagan sold 684,583 shares of the firm’s stock in a transaction dated 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 directly owns 464,963 shares in the company, valued at approximately $10,205,937.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Jared F. Sine sold 64,436 shares of the firm’s stock in a transaction dated 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 owns 64,436 shares of the company’s stock, valued at $1,318,360.56. The disclosure for this sale can be found here. Over the last 90 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 made changes to their positions in MTCH. Cubist Systematic Strategies LLC grew its stake in shares of Match Group by 499.8% in the second quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock worth $111,000 after acquiring an additional 5,333 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Match Group by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock worth $131,000 after acquiring an additional 519 shares during the period. Turner Investments LLC bought a new stake in shares of Match Group in the third quarter worth approximately $162,000. BNP Paribas Arbitrage SA grew its stake in shares of Match Group by 162.9% in the third quarter. BNP Paribas Arbitrage SA now owns 7,035 shares of the technology company’s stock worth $163,000 after acquiring an additional 4,359 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in shares of Match Group in the second quarter worth approximately $176,000. Hedge funds and other institutional investors own 20.04% of the company’s stock.
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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