Match Group, Inc. (MTCH) Given “Buy” Rating at Jefferies Group LLC
Match Group, Inc. (NASDAQ:MTCH)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group LLC in a research report issued on Thursday, August 31st.
Several other research firms also recently weighed in on MTCH. Vetr downgraded Match Group from a “strong-buy” rating to a “buy” rating and set a $19.42 price objective for the company. in a research note on Monday, June 19th. Aegis increased their target price on Match Group from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 5th. BidaskClub cut Match Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research cut Match Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. Match Group has an average rating of “Buy” and an average price target of $20.62.
Match Group (NASDAQ MTCH) traded up 2.92% during mid-day trading on Thursday, hitting $23.95. The stock had a trading volume of 1,096,461 shares. The stock has a 50-day moving average price of $19.32 and a 200 day moving average price of $18.15. Match Group has a 12-month low of $15.05 and a 12-month high of $23.99. The firm has a market cap of $6.28 billion, a P/E ratio of 34.07 and a beta of 0.53.
Match Group (NASDAQ:MTCH) last released 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 34.49%. The firm had revenue of $309.57 million during the quarter, compared to analysts’ expectations of $310.36 million. During the same period in the previous year, the business earned $0.17 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities analysts anticipate that Match Group will post $0.88 EPS for the current fiscal year.
In other news, General Counsel Jared F. Sine sold 64,436 shares of Match Group stock in a transaction dated 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 sale, the general counsel now directly owns 64,436 shares of the company’s stock, valued at $1,318,360.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Sam Yagan sold 98,854 shares of Match Group stock in a transaction dated 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 directly owns 84,391 shares in the company, valued at $1,611,868.10. The disclosure for this sale can be found here. Insiders sold 902,498 shares of company stock worth $19,287,878 over the last three months. 18.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its position in shares of Match Group by 499.8% during the second quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock worth $111,000 after acquiring an additional 5,333 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Match Group by 19.9% during the first quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock worth $114,000 after acquiring an additional 1,156 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Match Group by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock worth $131,000 after acquiring an additional 519 shares during the last quarter. TLP Group LLC purchased a new stake in shares of Match Group during the first quarter worth about $154,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Match Group during the second quarter worth about $176,000. 19.05% of the stock is currently owned by institutional investors and hedge funds.
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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