Match Group, Inc. (MTCH) Receives $20.62 Consensus PT from Brokerages
Match Group, Inc. (NASDAQ:MTCH) has earned a consensus rating of “Buy” from the eighteen brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $20.62.
A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research lowered shares of Match Group from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. 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. Vetr lowered shares of Match Group from a “buy” rating to a “hold” rating and set a $20.78 price target for the company. in a report on Tuesday, May 30th. Finally, Jefferies Group LLC upped their price target on shares of Match Group from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 5th.
In other Match Group news, Vice Chairman Sam Yagan sold 98,854 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $19.10, for a total transaction of $1,888,111.40. Following the transaction, the insider now directly owns 84,391 shares of the company’s stock, valued at approximately $1,611,868.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 18.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC increased its position 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 buying an additional 5,333 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Match Group by 19.9% in the first quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock worth $114,000 after buying an additional 1,156 shares during the last quarter. The Manufacturers Life Insurance Company increased its position 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 buying an additional 519 shares during the last quarter. TLP Group LLC bought a new position in shares of Match Group during the first quarter worth about $154,000. Finally, Private Advisor Group LLC bought a new position in shares of Match Group during the first quarter worth about $174,000. 19.05% of the stock is currently owned by institutional investors and hedge funds.
Match Group (NASDAQ MTCH) traded up 2.33% during mid-day trading on Friday, reaching $19.76. 1,751,863 shares of the company’s stock were exchanged. Match Group has a 12 month low of $14.88 and a 12 month high of $20.75. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 28.11 and a beta of 0.64. The stock has a 50-day moving average of $18.60 and a 200-day moving average of $17.93.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.03. The business had revenue of $309.57 million during the quarter, compared to the consensus estimate of $310.36 million. Match Group had a return on equity of 34.49% and a net margin of 16.21%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Analysts anticipate that Match Group will post $0.88 earnings per share for the current year.
Match Group declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 2nd that authorizes the company to buyback 6,000,000 outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
About Match Group
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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