Match Group Inc. (MTCH) Now Covered by Aegis
Stock analysts at Aegis initiated coverage on shares of Match Group Inc. (NASDAQ:MTCH) in a report released on Friday. The brokerage set a “buy” rating and a $20.00 price target on the stock. Aegis’ price objective would indicate a potential upside of 12.42% from the company’s current price.
Several other analysts have also weighed in on the stock. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Match Group in a report on Monday, August 29th. Deutsche Bank AG raised their price objective on shares of Match Group from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Axiom Securities reaffirmed a “buy” rating and set a $18.00 price objective on shares of Match Group in a report on Tuesday, July 26th. JPMorgan Chase & Co. reissued a “buy” rating and set a $20.00 price target on shares of Match Group in a research note on Tuesday, September 27th. Finally, Zacks Investment Research cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. Match Group presently has a consensus rating of “Buy” and an average price target of $16.93.
Match Group (NASDAQ:MTCH) opened at 17.79 on Friday. Match Group has a 12-month low of $8.41 and a 12-month high of $19.74. The company has a market cap of $4.53 billion and a PE ratio of 34.54. The firm has a 50 day moving average price of $17.74 and a 200 day moving average price of $15.82.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The company earned $316.40 million during the quarter, compared to analyst estimates of $317.92 million. Match Group had a net margin of 11.38% and a return on equity of 42.62%. The business’s revenue was up 17.6% on a year-over-year basis. On average, analysts anticipate that Match Group will post $0.75 earnings per share for the current fiscal year.
In other Match Group news, insider Amarnath Thombre sold 44,385 shares of Match Group stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $16.01, for a total value of $710,603.85. Following the sale, the insider now directly owns 23,452 shares in the company, valued at approximately $375,466.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 19.90% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of Match Group by 24.4% in the second quarter. JPMorgan Chase & Co. now owns 4,735,305 shares of the company’s stock valued at $71,385,000 after buying an additional 929,784 shares during the last quarter. Scout Investments Inc. acquired a new stake in shares of Match Group during the third quarter valued at about $14,719,000. Coatue Management LLC acquired a new stake in shares of Match Group during the second quarter valued at about $12,409,000. AO Asset Management LLC acquired a new stake in shares of Match Group during the third quarter valued at about $12,851,000. Finally, Vanguard Group Inc. raised its stake in shares of Match Group by 31.8% in the second quarter. Vanguard Group Inc. now owns 2,750,269 shares of the company’s stock valued at $41,459,000 after buying an additional 663,037 shares during the last quarter. Hedge funds and other institutional investors own 16.48% of the company’s stock.
About Match Group
Match Group, Inc is a provider of dating products. The Company operates in two segments: Dating and Non-dating. Its Dating segment provides dating products and the Company’s Non-dating segment provides various education services, including test preparation, academic tutoring and college counseling services.
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