Match Group, Inc. (NASDAQ:MTCH) to Post Q3 2017 Earnings of $0.14 Per Share, Oppenheimer Holdings Forecasts
Match Group, Inc. (NASDAQ:MTCH) – Research analysts at Oppenheimer Holdings lowered their Q3 2017 earnings per share estimates for shares of Match Group in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst J. Helfstein now anticipates that the technology company will post earnings per share of $0.14 for the quarter, down from their previous estimate of $0.18. Oppenheimer Holdings also issued estimates for Match Group’s FY2017 earnings at $0.59 EPS, FY2018 earnings at $0.74 EPS, FY2019 earnings at $1.00 EPS and FY2020 earnings at $1.36 EPS.
A number of other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Match Group from a “hold” rating to a “sell” rating in a research report on Saturday. Aegis boosted their price objective on shares of Match Group from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday. BidaskClub downgraded shares of Match Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and set a $23.00 price objective on shares of Match Group in a research report on Thursday, June 22nd. Finally, Vetr downgraded shares of Match Group from a “strong-buy” rating to a “buy” rating and set a $19.42 price objective for the company. in a research report on Monday, June 19th. Two investment 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 a consensus rating of “Buy” and a consensus price target of $20.62.
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Match Group (NASDAQ:MTCH) opened at 18.82 on Monday. The firm’s 50-day moving average price is $17.93 and its 200 day moving average price is $17.79. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 26.77 and a beta of 0.64. Match Group has a one year low of $14.32 and a one year high of $20.75.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing the 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 firm had revenue of $309.57 million for the quarter, compared to the consensus estimate of $310.36 million. During the same period last year, the company posted $0.17 earnings per share. Match Group’s revenue for the quarter was up 12.4% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of MTCH. Guggenheim Capital LLC purchased a new position in shares of Match Group during the fourth quarter valued at $959,000. Clinton Group Inc. increased its position in shares of Match Group by 23.8% in the first quarter. Clinton Group Inc. now owns 163,019 shares of the technology company’s stock valued at $2,662,000 after buying an additional 31,350 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of Match Group during the fourth quarter valued at $1,510,000. Soros Fund Management LLC increased its position in shares of Match Group by 144.0% in the first quarter. Soros Fund Management LLC now owns 36,600 shares of the technology company’s stock valued at $598,000 after buying an additional 21,600 shares in the last quarter. Finally, Airain ltd purchased a new position in shares of Match Group during the first quarter valued at $611,000. 20.60% of the stock is owned by institutional investors.
In related news, insider Amarnath Thombre sold 300,000 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $19.26, for a total value of $5,778,000.00. Following the completion of the transaction, the insider now owns 197,640 shares of the company’s stock, valued at approximately $3,806,546.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.10% of the company’s stock.
Match Group declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 2nd that permits the company to repurchase 6,000,000 shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
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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