Match Group (MTCH) Upgraded to Buy by Guggenheim

Match Group (NASDAQ:MTCH) was upgraded by investment analysts at Guggenheim from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat Ratings reports.

Several other research analysts have also recently weighed in on the company. Jefferies Group reiterated a “buy” rating and set a $28.00 price objective (up previously from $23.00) on shares of Match Group in a research report on Thursday, August 31st. Bank of America increased their price objective on Match Group from $21.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Deutsche Bank reiterated a “buy” rating and set a $33.00 price objective on shares of Match Group in a research report on Wednesday, November 15th. Wells Fargo & Company reiterated a “buy” rating and set a $29.00 price objective (up previously from $21.00) on shares of Match Group in a research report on Thursday, October 19th. Finally, Cowen reiterated an “outperform” rating and set a $28.00 price objective (up previously from $22.00) on shares of Match Group in a research report on Friday, October 13th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $31.09.

Shares of Match Group (MTCH) traded up $0.33 during trading on Tuesday, reaching $30.83. The company’s stock had a trading volume of 1,520,000 shares, compared to its average volume of 1,960,000. Match Group has a fifty-two week low of $15.42 and a fifty-two week high of $32.87. The firm has a market cap of $8,420.00 and a P/E ratio of 49.88. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.40.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). The business had revenue of $343.40 million for the quarter, compared to analyst estimates of $329.19 million. Match Group had a net margin of 34.06% and a return on equity of 31.18%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS. sell-side analysts expect that Match Group will post 0.62 EPS for the current year.

In related news, Director Ann Mcdaniel sold 11,119 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $30.62, for a total value of $340,463.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 18.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Match Group by 34.8% in the second quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock valued at $108,945,000 after acquiring an additional 1,617,950 shares during the last quarter. JPMorgan Chase & Co. grew its position in Match Group by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 5,377,345 shares of the technology company’s stock valued at $93,457,000 after acquiring an additional 20,060 shares during the last quarter. Light Street Capital Management LLC bought a new position in Match Group in the second quarter valued at about $39,974,000. Voya Investment Management LLC grew its position in Match Group by 16.4% in the second quarter. Voya Investment Management LLC now owns 1,674,074 shares of the technology company’s stock valued at $29,095,000 after acquiring an additional 235,355 shares during the last quarter. Finally, Mik Capital LLC bought a new position in Match Group in the second quarter valued at about $23,043,000. Institutional investors own 20.97% of the company’s stock.

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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.