Piper Jaffray Companies Reaffirms “Overweight” Rating for Match Group, Inc. (MTCH)
Piper Jaffray Companies reaffirmed their overweight rating on shares of Match Group, Inc. (NASDAQ:MTCH) in a research note released on Wednesday. Piper Jaffray Companies currently has a $28.00 price objective on the technology company’s stock, up from their prior price objective of $25.00.
A number of other research firms have also recently commented on MTCH. Citigroup Inc. upped their target price on Match Group from $22.00 to $28.00 and gave the company a buy rating in a research note on Wednesday. Zacks Investment Research raised Match Group from a strong sell rating to a hold rating and set a $28.00 target price on the stock in a research note on Wednesday. BMO Capital Markets reaffirmed a buy rating and set a $21.00 target price on shares of Match Group in a research note on Wednesday, September 13th. UBS AG upped their target price on Match Group from $22.00 to $28.00 and gave the company a buy rating in a research note on Wednesday, September 20th. Finally, Jefferies Group LLC upped their target price on Match Group from $23.00 to $28.00 and gave the company a buy rating in a research note on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Match Group has an average rating of Buy and a consensus target price of $23.19.
Match Group (NASDAQ MTCH) traded up 0.63% during trading on Wednesday, reaching $25.38. The company had a trading volume of 850,472 shares. The company has a market capitalization of $6.65 billion, a PE ratio of 36.10 and a beta of 0.56. The firm’s 50 day moving average is $22.43 and its 200 day moving average is $19.25. Match Group has a one year low of $15.08 and a one year high of $25.57.
Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, August 1st. The technology company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $309.57 million for the quarter, compared to the consensus estimate of $310.36 million. Match Group had a net margin of 16.21% and a return on equity of 34.49%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. On average, equities research analysts predict that Match Group will post $0.79 earnings per share for the current year.
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In other Match Group news, General Counsel Jared F. Sine sold 64,436 shares of the company’s stock in a transaction 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 completion of the sale, the general counsel now owns 64,436 shares in the company, valued at $1,318,360.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Sam Yagan sold 98,854 shares of the company’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 sale, the insider now owns 84,391 shares of the company’s stock, valued at approximately $1,611,868.10. The disclosure for this sale can be found here. In 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.
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Match Group by 34.8% during the second quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock worth $108,945,000 after buying an additional 1,617,950 shares during the period. JPMorgan Chase & Co. lifted its holdings in Match Group by 0.4% during the second quarter. JPMorgan Chase & Co. now owns 5,377,345 shares of the technology company’s stock worth $93,457,000 after buying an additional 20,060 shares during the period. Light Street Capital Management LLC purchased a new stake in Match Group during the second quarter worth $39,974,000. Voya Investment Management LLC lifted its holdings in Match Group by 16.4% during the second quarter. Voya Investment Management LLC now owns 1,674,074 shares of the technology company’s stock worth $29,095,000 after buying an additional 235,355 shares during the period. Finally, Mik Capital LLC purchased a new stake in Match Group during the second quarter worth $23,043,000. 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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