Jefferies Group Analysts Increase Earnings Estimates for Match Group, Inc. (MTCH)
Match Group, Inc. (NASDAQ:MTCH) – Jefferies Group upped their FY2017 EPS estimates for shares of Match Group in a research note issued to investors on Wednesday. Jefferies Group analyst B. Fitzgerald now expects that the technology company will post earnings per share of $0.64 for the year, up from their previous estimate of $0.63. Jefferies Group currently has a “Buy” rating and a $28.00 price target on the stock. Jefferies Group also issued estimates for Match Group’s FY2018 earnings at $0.88 EPS.
Several other equities analysts have also weighed in on MTCH. Zacks Investment Research lowered Match Group from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. Vetr upgraded Match Group from a “buy” rating to a “strong-buy” rating and set a $21.09 target price on the stock in a report on Wednesday, May 17th. BidaskClub lowered Match Group from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Aegis raised their target price on Match Group from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Two equities 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 stock. The stock currently has an average rating of “Buy” and an average price target of $21.04.
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Shares of Match Group (NASDAQ:MTCH) opened at 22.17 on Monday. Match Group has a 1-year low of $15.05 and a 1-year high of $24.05. The stock has a 50 day moving average price of $19.54 and a 200-day moving average price of $18.21. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 31.54 and a beta of 0.53.
Match Group (NASDAQ:MTCH) last announced 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. The firm had revenue of $309.57 million for the quarter, compared to analyst estimates of $310.36 million. Match Group had a return on equity of 34.49% and a net margin of 16.21%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share.
Institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC increased its stake in shares of Match Group by 499.8% in the second quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock worth $111,000 after purchasing an additional 5,333 shares during the period. Mutual of America Capital Management LLC increased 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 purchasing an additional 1,156 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Match Group by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock worth $131,000 after purchasing an additional 519 shares during the period. TLP Group LLC bought a new position in shares of Match Group in the first quarter worth about $154,000. Finally, Private Advisor Group LLC bought a new position in shares of Match Group in the first quarter worth about $174,000. Institutional investors and hedge funds own 19.05% of the company’s stock.
In other news, 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 transaction, the insider now directly owns 84,391 shares in the company, valued at $1,611,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,318,360.56. Following the completion of the transaction, the general counsel now owns 64,436 shares in the company, valued at $1,318,360.56. The disclosure for this sale can be found here. Insiders sold 902,498 shares of company stock worth $19,287,878 over the last quarter. 18.10% of the stock is currently owned by corporate insiders.
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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