Match Group, Inc. (MTCH) Price Target Raised to $28.00 at Jefferies Group LLC
Match Group, Inc. (NASDAQ:MTCH) had its price target increased by equities research analysts at Jefferies Group LLC from $23.00 to $28.00 in a report released on Thursday, StockTargetPrices.com reports. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 20.33% from the company’s current price.
MTCH has been the subject of several other research reports. Vetr lowered shares of Match Group from a “buy” rating to a “hold” rating and set a $20.78 price target for the company. in a research report on Tuesday, May 30th. Zacks Investment Research lowered shares of Match Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Aegis upped their price target on shares of Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Match Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.04.
Shares of Match Group (NASDAQ MTCH) traded up 3.18% during mid-day trading on Thursday, hitting $24.01. 1,280,962 shares of the stock traded hands. Match Group has a 12-month low of $15.05 and a 12-month high of $24.05. The stock has a market cap of $6.30 billion, a P/E ratio of 34.15 and a beta of 0.53. The firm’s 50 day moving average price is $19.32 and its 200-day moving average price is $18.15.
Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by $0.03. The firm had revenue of $309.57 million for the quarter, compared to the consensus estimate of $310.36 million. Match Group had a return on equity of 34.49% and a net margin of 16.21%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS. Analysts predict that Match Group will post $0.88 earnings per share for the current year.
In related news, Vice Chairman Sam Yagan sold 98,854 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $19.10, for a total value of $1,888,111.40. Following the completion of the transaction, the insider now owns 84,391 shares in the company, valued at approximately $1,611,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jared F. Sine sold 64,436 shares of the stock in a transaction dated 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 completion of the transaction, 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 sold a total of 902,498 shares of company stock valued at $19,287,878 in the last quarter. 18.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio grew its position in Match Group by 115.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,520 shares of the technology company’s stock valued at $183,000 after buying an additional 5,633 shares in the last quarter. Koch Industries Inc. grew its position in Match Group by 1,409.6% in the 2nd quarter. Koch Industries Inc. now owns 566,085 shares of the technology company’s stock valued at $535,000 after buying an additional 528,585 shares in the last quarter. Verition Fund Management LLC bought a new position in Match Group in the 2nd quarter valued at about $246,000. California State Teachers Retirement System grew its position in Match Group by 13.4% in the 2nd quarter. California State Teachers Retirement System now owns 65,168 shares of the technology company’s stock valued at $1,133,000 after buying an additional 7,700 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Match Group by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock valued at $131,000 after buying an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 19.05% of the company’s stock.
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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