Jefferies Group Research Analysts Reduce Earnings Estimates for Match Group, Inc. (MTCH)
Match Group, Inc. (NASDAQ:MTCH) – Analysts at Jefferies Group lowered their Q3 2017 EPS estimates for Match Group in a note issued to investors on Thursday. Jefferies Group analyst B. Fitzgerald now anticipates that the technology company will post earnings per share of $0.18 for the quarter, down from their prior estimate of $0.20. Jefferies Group currently has a “Buy” rating and a $23.00 target price on the stock. Jefferies Group also issued estimates for Match Group’s FY2018 earnings at $0.82 EPS.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut Match Group from a “hold” rating to a “sell” rating in a research note on Saturday. Aegis boosted their price target on Match Group from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday. BidaskClub cut Match Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Vetr cut Match Group from a “strong-buy” rating to a “buy” rating and set a $19.42 price target for the company. in a research note on Monday, June 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $20.62.
Match Group (NASDAQ:MTCH) opened at 18.82 on Monday. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 26.77 and a beta of 0.64. The company has a 50-day moving average of $17.93 and a 200 day moving average of $17.79. Match Group has a 12-month low of $14.32 and a 12-month high of $20.75.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Match Group had a net margin of 16.21% and a return on equity of 36.94%. The business 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 business posted $0.17 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis.
A number of large investors have recently made changes to their positions in MTCH. Mutual of America Capital Management LLC boosted its stake in shares of Match Group by 19.9% in the first quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock worth $114,000 after buying an additional 1,156 shares during the last quarter. TLP Group LLC bought a new stake in shares of Match Group during the first quarter worth about $154,000. Private Advisor Group LLC bought a new stake in shares of Match Group during the first quarter worth about $174,000. Fox Run Management L.L.C. bought a new stake in shares of Match Group during the second quarter worth about $176,000. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Match Group during the first quarter worth about $181,000. 20.60% of the stock is owned by hedge funds and other institutional investors.
In other Match Group news, insider Amarnath Thombre sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $19.26, for a total transaction of $5,778,000.00. Following the completion of the sale, the insider now owns 197,640 shares of the company’s stock, valued at $3,806,546.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.10% of the stock is owned by corporate insiders.
Match Group announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 2nd that authorizes the company to buyback 6,000,000 shares. This buyback authorization authorizes the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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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