Match Group, Inc. (MTCH) Releases Earnings Results, Misses Estimates By $0.02 EPS
Match Group, Inc. (NASDAQ:MTCH) posted its quarterly earnings data on Tuesday. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02), Bloomberg Earnings reports. The firm had revenue of $343.40 million during the quarter, compared to analyst estimates of $329.19 million. Match Group had a net margin of 16.21% and a return on equity of 34.49%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS.
Match Group (MTCH) traded down $0.85 on Tuesday, reaching $26.90. 3,776,233 shares of the company’s stock traded hands, compared to its average volume of 1,500,000. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.83. Match Group has a 12 month low of $15.42 and a 12 month high of $27.99. The stock has a market capitalization of $7,170.00 and a P/E ratio of 41.55.
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In other Match Group news, Vice Chairman Sam Yagan sold 684,583 shares of the business’s stock in a transaction that occurred 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 directly owns 464,963 shares in the company, valued at $10,205,937.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Jared F. Sine sold 64,436 shares of the business’s 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 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 quarter, insiders have sold 902,498 shares of company stock valued at $19,287,878. 18.10% of the stock is owned by insiders.
A hedge fund recently raised its stake in Match Group stock. The Manufacturers Life Insurance Company grew its holdings in shares of Match Group, Inc. (NASDAQ:MTCH) by 7.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,525 shares of the technology company’s stock after buying an additional 519 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Match Group were worth $131,000 at the end of the most recent quarter. 19.95% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on MTCH. BMO Capital Markets reissued an “outperform” rating and issued a $30.00 price objective (up previously from $21.00) on shares of Match Group in a research report on Friday, October 13th. Cowen and Company reaffirmed an “outperform” rating and set a $28.00 price target (up previously from $22.00) on shares of Match Group in a research report on Friday, October 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Match Group in a research report on Saturday, September 30th. Zacks Investment Research lowered shares of Match Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Wells Fargo & Company reaffirmed a “buy” rating and set a $29.00 price target (up previously from $21.00) on shares of Match Group in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $26.96.
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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