Cowen and Company Reiterates “Outperform” Rating for Match Group, Inc. (MTCH)
Match Group, Inc. (NASDAQ:MTCH)‘s stock had its “outperform” rating reissued by investment analysts at Cowen and Company in a research note issued on Friday, The Fly reports. They currently have a $28.00 price target on the technology company’s stock, up from their prior price target of $22.00. Cowen and Company’s price objective would indicate a potential upside of 8.78% from the company’s current price.
A number of other equities analysts have also recently issued reports on MTCH. Vetr cut shares of Match Group from a “strong-buy” rating to a “buy” rating and set a $19.42 price objective on the stock. in a research report on Monday, June 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Match Group in a research note on Thursday, June 22nd. Zacks Investment Research lowered shares of Match Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub lowered shares of Match Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, Aegis boosted their price objective on shares of Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $25.10.
Shares of Match Group (NASDAQ:MTCH) opened at 25.74 on Friday. The company has a market cap of $6.75 billion, a PE ratio of 36.61 and a beta of 0.56. The company has a 50 day moving average of $23.21 and a 200 day moving average of $19.52. Match Group has a 52 week low of $15.08 and a 52 week high of $26.24.
Match Group (NASDAQ:MTCH) last issued 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 return on equity of 34.49% and a net margin of 16.21%. The business had revenue of $309.57 million during the quarter, compared to analysts’ expectations of $310.36 million. During the same quarter in the previous year, the business earned $0.17 EPS. Match Group’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts expect that Match Group will post $0.79 EPS for the current year.
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In other news, General Counsel Jared F. Sine sold 64,436 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total value of $1,318,360.56. Following the sale, the general counsel now directly owns 64,436 shares in the company, valued at approximately $1,318,360.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Sam Yagan sold 684,583 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $21.95, for a total transaction of $15,026,596.85. Following the completion of the sale, the insider now owns 464,963 shares in the company, valued at $10,205,937.85. The disclosure for this sale can be found here. Insiders sold a total of 902,498 shares of company stock worth $19,287,878 in the last ninety days. 18.10% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in MTCH. Light Street Capital Management LLC bought a new stake in shares of Match Group in the 2nd quarter valued at about $39,974,000. Vanguard Group Inc. boosted its holdings in shares of Match Group by 34.8% in the 2nd quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock valued at $108,945,000 after buying an additional 1,617,950 shares in the last quarter. Mik Capital LLC bought a new stake in shares of Match Group in the 2nd quarter valued at about $23,043,000. black and white Capital LP bought a new stake in shares of Match Group in the 2nd quarter valued at about $13,209,000. Finally, First Manhattan Co. boosted its holdings in shares of Match Group by 18,454.2% in the 2nd quarter. First Manhattan Co. now owns 667,950 shares of the technology company’s stock valued at $11,608,000 after buying an additional 664,350 shares in the last quarter. Institutional investors and hedge funds own 18.97% of the company’s stock.
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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