Match Group, Inc. (MTCH) Upgraded to Hold by Zacks Investment Research
Match Group, Inc. (NASDAQ:MTCH) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Match Group, Inc. offers subscription-based online dating websites and applications services. The company’s dating products brands consists of Match, OkCupid, Tinder, PlentyOfFish, Meetic, Twoo, OurTime and FriendScout24. Match Group, Inc. is headquartered in Dallas, Texas. “
A number of other analysts have also weighed in on MTCH. BidaskClub lowered shares of Match Group from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and set a $28.00 price target (up previously from $23.00) on shares of Match Group in a report on Thursday, August 31st. Vetr downgraded Match Group from a “strong-buy” rating to a “buy” rating and set a $19.42 price target on the stock. in a report on Monday, June 19th. BMO Capital Markets reaffirmed a “buy” rating and set a $21.00 price target on shares of Match Group in a research report on Wednesday, September 13th. Finally, UBS AG upped their price target on Match Group from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $21.70.
Match Group (NASDAQ:MTCH) opened at 24.75 on Wednesday. The stock has a 50 day moving average price of $21.90 and a 200 day moving average price of $19.10. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 35.21 and a beta of 0.56. Match Group has a 52-week low of $15.08 and a 52-week high of $25.26.
Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Match Group had a net margin of 16.21% and a return on equity of 34.49%. The firm had revenue of $309.57 million during the quarter, compared to analysts’ expectations of $310.36 million. During the same quarter in the previous year, the firm posted $0.17 EPS. Match Group’s revenue was up 12.4% compared to the same quarter last year. Equities research analysts forecast that Match Group will post $0.79 earnings per share for the current 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 on Friday, September 1st. The stock was sold at an average price of $21.95, for a total transaction of $15,026,596.85. Following the completion of the transaction, the insider now owns 464,963 shares of the company’s stock, valued at $10,205,937.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jared F. Sine sold 64,436 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total value of $1,318,360.56. Following the transaction, 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. Insiders have sold a total of 902,498 shares of company stock worth $19,287,878 in the last quarter. Company insiders own 18.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in MTCH. Public Employees Retirement System of Ohio grew its position in shares of Match Group by 115.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,520 shares of the technology company’s stock worth $183,000 after buying an additional 5,633 shares during the period. Koch Industries Inc. increased its stake in shares of Match Group by 1,409.6% in the 2nd quarter. Koch Industries Inc. now owns 566,085 shares of the technology company’s stock worth $535,000 after acquiring an additional 528,585 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Match Group in the 2nd quarter worth about $246,000. California State Teachers Retirement System increased its stake in shares of Match Group by 13.4% in the 2nd quarter. California State Teachers Retirement System now owns 65,168 shares of the technology company’s stock worth $1,133,000 after acquiring an additional 7,700 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Match Group by 7.4% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 18.97% of the company’s stock.
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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