Zacks Investment Research Lowers Match Group, Inc. (MTCH) to Hold
Zacks Investment Research lowered shares of Match Group, Inc. (NASDAQ:MTCH) from a buy rating to a hold rating in a research note released on Wednesday morning.
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. “
Several other research firms have also weighed in on MTCH. Wells Fargo & Company reiterated a buy rating on shares of Match Group in a research note on Tuesday. BMO Capital Markets reiterated an outperform rating and issued a $30.00 price objective (up previously from $21.00) on shares of Match Group in a research note on Friday, October 13th. Cowen and Company reiterated an outperform rating and issued a $28.00 price objective (up previously from $22.00) on shares of Match Group in a research note on Friday, October 13th. Barclays PLC lifted their price objective on shares of Match Group from $20.00 to $26.00 and gave the company an equal weight rating in a research note on Monday, October 23rd. Finally, Bank of America Corporation lifted their price objective on shares of Match Group from $21.00 to $30.00 and gave the company a buy rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $29.65.
Match Group (NASDAQ MTCH) opened at $28.46 on Wednesday. The stock has a market cap of $7,488.77, a P/E ratio of 48.41, a PEG ratio of 3.58 and a beta of 0.68. Match Group has a 1 year low of $15.42 and a 1 year high of $32.87. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.82 and a quick ratio of 1.82.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $343.40 million during the quarter, compared to analyst estimates of $329.19 million. Match Group had a return on equity of 30.58% and a net margin of 34.06%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. equities research analysts forecast that Match Group will post 0.63 earnings per share for the current fiscal year.
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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 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 owns 464,963 shares in the company, valued at approximately $10,205,937.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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 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 valued at $19,287,878 in the last 90 days. 18.10% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in MTCH. Light Street Capital Management LLC bought a new stake in Match Group during the 2nd quarter valued at $39,974,000. Vanguard Group Inc. increased its stake in Match Group by 34.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock valued at $108,945,000 after purchasing an additional 1,617,950 shares in the last quarter. Mik Capital LLC bought a new stake in Match Group during the 2nd quarter valued at $23,043,000. Wells Fargo & Company MN increased its stake in 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 purchasing an additional 834,681 shares in the last quarter. Finally, black and white Capital LP bought a new stake in Match Group during the 2nd quarter valued at $13,209,000. Institutional investors and hedge funds own 19.95% of the company’s stock.
Match Group Company Profile
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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