Match Group, Inc. (MTCH) Stock Rating Reaffirmed by Piper Jaffray Companies
Piper Jaffray Companies reissued their overweight rating on shares of Match Group, Inc. (NASDAQ:MTCH) in a research note published on Wednesday morning, The Fly reports. They currently have a $33.00 target price on the technology company’s stock, up from their previous target price of $28.00.
Several other brokerages have also recently issued reports on MTCH. Wells Fargo & Company reaffirmed a buy rating on shares of Match Group in a research report on Tuesday, November 7th. Zacks Investment Research cut Match Group from a buy rating to a hold rating in a research report on Wednesday. BMO Capital Markets reaffirmed an outperform rating and set a $30.00 target price (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 target price (up previously from $22.00) on shares of Match Group in a research report on Friday, October 13th. Finally, Barclays PLC lifted their target price on Match Group from $20.00 to $26.00 and gave the company an equal weight rating in a research report on Monday, October 23rd. One equities 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 stock. The stock has a consensus rating of Hold and a consensus target price of $30.03.
Match Group (MTCH) traded down $0.10 during midday trading on Wednesday, hitting $28.46. The stock had a trading volume of 2,676,700 shares, compared to its average volume of 1,935,377. The company has a market capitalization of $7,462.55, a P/E ratio of 48.24, a price-to-earnings-growth ratio of 3.57 and a beta of 0.68. Match Group has a 52-week low of $15.42 and a 52-week high of $32.87. 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 released its quarterly earnings data 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). The firm had revenue of $343.40 million for the quarter, compared to the consensus estimate of $329.19 million. Match Group had a net margin of 34.06% and a return on equity of 30.58%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 EPS. equities analysts expect that Match Group will post 0.63 EPS for the current year.
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 stock was sold at an average price of $19.10, for a total value of $1,888,111.40. Following the transaction, the insider now owns 84,391 shares of the company’s stock, valued at $1,611,868.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Jared F. Sine sold 64,436 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total value of $1,318,360.56. Following the completion of the transaction, the general counsel now directly owns 64,436 shares in the company, valued at approximately $1,318,360.56. The disclosure for this sale can be found here. In the last three months, insiders sold 902,498 shares of company stock worth $19,287,878. Insiders own 18.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of Match Group by 493.8% during the 3rd quarter. Wells Fargo & Company MN now owns 1,003,722 shares of the technology company’s stock valued at $23,276,000 after buying an additional 834,681 shares during the last quarter. GMT Capital Corp lifted its position in shares of Match Group by 20.6% during the 3rd quarter. GMT Capital Corp now owns 612,200 shares of the technology company’s stock valued at $14,197,000 after buying an additional 104,500 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Match Group during the 3rd quarter valued at $207,000. Turner Investments LLC purchased a new position in shares of Match Group during the 3rd quarter valued at $162,000. Finally, Pacer Advisors Inc. lifted its position in shares of Match Group by 11.5% during the 3rd quarter. Pacer Advisors Inc. now owns 28,820 shares of the technology company’s stock valued at $668,000 after buying an additional 2,970 shares during the last quarter. 19.95% of the stock is currently owned by hedge funds and other institutional investors.
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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