Zacks Investment Research Downgrades Match Group, Inc. (MTCH) to Sell
Match Group, Inc. (NASDAQ:MTCH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “
MTCH has been the topic of several other reports. Citigroup Inc. initiated coverage on Match Group in a research report on Monday, March 27th. They set a “buy” rating and a $22.00 price target on the stock. Piper Jaffray Companies initiated coverage on Match Group in a research report on Tuesday, April 4th. They set an “overweight” rating and a $21.00 price target on the stock. Vetr lowered Match Group from a “strong-buy” rating to a “buy” rating and set a $21.33 price target on the stock. in a research report on Monday, May 1st. Jefferies Group LLC initiated coverage on Match Group in a research report on Tuesday, April 18th. They set a “buy” rating and a $21.00 price target on the stock. Finally, Cowen and Company reissued an “outperform” rating and set a $22.00 price target on shares of Match Group in a research report on Monday, April 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $20.34.
Match Group (NASDAQ:MTCH) traded up 0.57% during mid-day trading on Wednesday, reaching $17.55. 807,718 shares of the company’s stock were exchanged. The company has a market capitalization of $4.53 billion, a P/E ratio of 26.27 and a beta of 0.62. Match Group has a 52 week low of $14.32 and a 52 week high of $20.75. The company’s 50 day moving average price is $18.63 and its 200-day moving average price is $17.72.
Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, May 2nd. The technology company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business had revenue of $298.76 million for the quarter, compared to analysts’ expectations of $314.94 million. Match Group had a net margin of 14.91% and a return on equity of 39.71%. On average, equities research analysts expect that Match Group will post $0.88 earnings per share for the current fiscal year.
In other Match Group news, insider Amarnath Thombre sold 300,000 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $19.26, for a total value of $5,778,000.00. Following the sale, the insider now directly owns 197,640 shares of the company’s stock, valued at $3,806,546.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.10% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the company. UBS Oconnor LLC bought a new stake in shares of Match Group during the first quarter valued at $9,743,000. Lucha Capital Management LP bought a new stake in shares of Match Group during the first quarter valued at $9,059,000. Jane Street Group LLC bought a new stake in shares of Match Group during the first quarter valued at $682,000. Tenzing Global Management LLC bought a new stake in shares of Match Group during the first quarter valued at $2,041,000. Finally, Paloma Partners Management Co bought a new stake in shares of Match Group during the first quarter valued at $868,000. 20.85% of the stock is currently owned by hedge funds and other institutional investors.
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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