Match Group Inc (MTCH) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Match Group Inc (NASDAQ:MTCH) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.
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. “
MTCH has been the subject of several other reports. Vetr raised Match Group from a buy rating to a strong-buy rating and set a $20.13 target price for the company in a research report on Tuesday, January 17th. Jefferies Group LLC raised their target price on Match Group from $21.00 to $23.00 and gave the stock a buy rating in a research report on Monday. Citigroup Inc began coverage on Match Group in a research report on Monday, March 27th. They set a buy rating and a $22.00 target price for the company. Piper Jaffray Companies began coverage on Match Group in a research report on Tuesday, April 4th. They set an overweight rating and a $21.00 target price for the company. Finally, Aegis reaffirmed a buy rating on shares of Match Group in a research report on Wednesday, March 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $20.47.
Shares of Match Group (NASDAQ:MTCH) opened at 19.18 on Tuesday. The firm has a market capitalization of $4.96 billion, a PE ratio of 28.71 and a beta of 0.86. Match Group has a 1-year low of $13.15 and a 1-year high of $20.00. The stock has a 50 day moving average price of $18.15 and a 200 day moving average price of $17.50.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.01. Match Group had a net margin of 14.02% and a return on equity of 47.04%. The firm had revenue of $298.76 million during the quarter, compared to the consensus estimate of $314.94 million. Equities research analysts anticipate that Match Group will post $0.88 earnings per share for the current fiscal year.
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In other Match Group news, insider Amarnath Thombre sold 300,000 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $19.26, for a total transaction of $5,778,000.00. Following the completion of the sale, the insider now directly owns 197,640 shares in the company, valued at approximately $3,806,546.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 19.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Schroder Investment Management Group increased its stake in shares of Match Group by 58.6% in the first quarter. Schroder Investment Management Group now owns 4,911,935 shares of the technology company’s stock valued at $80,801,000 after buying an additional 1,815,822 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Match Group by 47.1% in the first quarter. Vanguard Group Inc. now owns 4,650,419 shares of the technology company’s stock valued at $75,941,000 after buying an additional 1,488,472 shares in the last quarter. Fred Alger Management Inc. increased its stake in shares of Match Group by 182.8% in the fourth quarter. Fred Alger Management Inc. now owns 1,598,435 shares of the technology company’s stock valued at $27,334,000 after buying an additional 1,033,188 shares in the last quarter. Alkeon Capital Management LLC purchased a new stake in shares of Match Group during the fourth quarter valued at approximately $17,060,000. Finally, Scout Investments Inc. purchased a new stake in shares of Match Group during the third quarter valued at approximately $14,719,000. Hedge funds and other institutional investors own 17.21% of the company’s stock.
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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