Match Group, Inc. (MTCH) Upgraded by Zacks Investment Research to Hold
Match Group, Inc. (NASDAQ:MTCH) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Match Group, Inc. offers subscription-based online dating websites and applications services. The company’s dating products brands consists of Match, OkCupid, Tinder, PlentyOfFish, Meetic, Twoo, OurTime and FriendScout24. Match Group, Inc. is headquartered in Dallas, Texas. “
A number of other brokerages have also issued reports on MTCH. BidaskClub lowered Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th. Vetr raised Match Group from a “buy” rating to a “strong-buy” rating and set a $20.68 price objective for the company in a research note on Monday, June 12th. Jefferies Group LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Match Group in a research note on Thursday, June 22nd. Aegis raised their price objective on Match Group from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Finally, BMO Capital Markets restated a “buy” rating and issued a $21.00 price objective on shares of Match Group in a report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. Match Group presently has a consensus rating of “Buy” and an average price target of $21.70.
Shares of Match Group (NASDAQ MTCH) opened at 24.75 on Wednesday. Match Group has a 12 month low of $15.08 and a 12 month high of $25.26. The company has a market cap of $6.49 billion, a PE ratio of 35.21 and a beta of 0.56. The company has a 50-day moving average of $21.90 and a 200 day moving average of $19.10.
Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, August 1st. The technology company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $310.36 million. During the same period in the previous year, the company earned $0.17 EPS. Match Group’s revenue was up 12.4% compared to the same quarter last year. On average, analysts anticipate that Match Group will post $0.79 earnings per share for the current year.
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In other news, Vice Chairman Sam Yagan sold 54,625 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $19.31, for a total transaction of $1,054,808.75. Following the transaction, the insider now owns 98,854 shares of the company’s stock, valued at approximately $1,908,870.74. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Jared F. Sine sold 64,436 shares of the business’s 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 transaction, the general counsel now directly owns 64,436 shares in the company, 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 over the last ninety days. Corporate insiders own 18.10% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC increased its position in 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 purchasing an additional 5,333 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Match Group by 19.9% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock valued at $114,000 after buying an additional 1,156 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Match Group by 12.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,048 shares of the technology company’s stock valued at $125,000 after buying an additional 800 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Match Group by 73.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 11,840 shares of the technology company’s stock valued at $131,000 after buying an additional 5,026 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of 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 during the period. 18.97% of the stock is owned by hedge funds and other institutional investors.
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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