Vetr Inc. Upgrades Match Group Inc. (MTCH) to “Strong-Buy”
Match Group Inc. (NASDAQ:MTCH) was upgraded by investment analysts at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday. The firm presently has a $20.04 price target on the stock. Vetr‘s target price indicates a potential upside of 14.19% from the stock’s current price.
Several other brokerages have also weighed in on MTCH. Axiom Securities raised their target price on Match Group from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, September 30th. Bank of America Corp. reaffirmed a “buy” rating on shares of Match Group in a research report on Thursday, November 3rd. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $20.00 price target (up previously from $18.00) on shares of Match Group in a research report on Wednesday, October 12th. Numis Securities Ltd reaffirmed a “buy” rating on shares of Match Group in a research report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $20.00 price target on shares of Match Group in a research report on Tuesday, September 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Match Group has an average rating of “Buy” and an average price target of $17.14.
Match Group (NASDAQ:MTCH) opened at 17.55 on Monday. The stock’s 50 day moving average price is $17.78 and its 200 day moving average price is $16.04. Match Group has a 52 week low of $8.41 and a 52 week high of $19.74. The firm has a market capitalization of $4.47 billion and a P/E ratio of 34.08.
Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, November 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. Match Group had a return on equity of 42.62% and a net margin of 11.38%. The business had revenue of $316.40 million for the quarter, compared to analyst estimates of $317.92 million. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities analysts expect that Match Group will post $0.75 EPS for the current year.
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In related news, Vice Chairman Sam Yagan sold 149,427 shares of Match Group stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $17.98, for a total value of $2,686,697.46. Following the sale, the insider now directly owns 25,722 shares in the company, valued at $462,481.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 19.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in Match Group by 12.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,048 shares of the company’s stock worth $125,000 after buying an additional 800 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Match Group during the third quarter worth approximately $128,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in Match Group during the third quarter worth approximately $145,000. AHL Partners LLP purchased a new stake in Match Group during the second quarter worth approximately $160,000. Finally, Quadrature Capital Ltd purchased a new stake in Match Group during the third quarter worth approximately $205,000. Institutional investors own 17.34% of the company’s stock.
Match Group Company Profile
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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