$310.40 Million in Sales Expected for Match Group, Inc. (MTCH) This Quarter
Wall Street brokerages expect that Match Group, Inc. (NASDAQ:MTCH) will report sales of $310.40 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Match Group’s earnings, with the lowest sales estimate coming in at $309.63 million and the highest estimate coming in at $311.36 million. Match Group posted sales of $301.12 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.1%. The firm is scheduled to report its next quarterly earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that Match Group will report full year sales of $310.40 million for the current year, with estimates ranging from $1.28 billion to $1.34 billion. For the next year, analysts forecast that the firm will report sales of $1.46 billion per share, with estimates ranging from $1.45 billion to $1.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Match Group.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Match Group had a return on equity of 39.71% and a net margin of 14.91%. The firm had revenue of $298.76 million for the quarter, compared to analyst estimates of $314.94 million.
MTCH has been the topic of a number of recent research reports. Aegis reiterated a “buy” rating on shares of Match Group in a research note on Wednesday, March 15th. Citigroup Inc. initiated coverage on Match Group in a research note on Monday, March 27th. They set a “buy” rating and a $22.00 target price on the stock. Piper Jaffray Companies initiated coverage on Match Group in a research note on Tuesday, April 4th. They set an “overweight” rating and a $21.00 target price on the stock. Jefferies Group LLC initiated coverage on Match Group in a research note on Tuesday, April 18th. They set a “buy” rating and a $21.00 target price on the stock. Finally, Cowen and Company reiterated an “outperform” rating and set a $22.00 target price on shares of Match Group in a research note on Monday, April 24th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $20.34.
Shares of Match Group (NASDAQ MTCH) opened at 17.50 on Wednesday. Match Group has a one year low of $13.55 and a one year high of $20.75. The stock’s 50 day moving average price is $18.92 and its 200 day moving average price is $17.73. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 26.20 and a beta of 0.57.
In related news, insider Amarnath Thombre sold 116,126 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $19.63, for a total transaction of $2,279,553.38. Following the sale, the insider now owns 50,000 shares of the company’s stock, valued at $981,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.90% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Match Group during the fourth quarter worth about $4,030,000. Dimensional Fund Advisors LP bought a new stake in shares of Match Group during the fourth quarter worth about $361,000. A.R.T. Advisors LLC bought a new stake in shares of Match Group during the fourth quarter worth about $990,000. Tudor Investment Corp Et Al increased its stake in shares of Match Group by 18.3% in the fourth quarter. Tudor Investment Corp Et Al now owns 20,469 shares of the technology company’s stock worth $350,000 after buying an additional 3,160 shares in the last quarter. Finally, Guggenheim Capital LLC bought a new stake in shares of Match Group during the fourth quarter worth about $959,000. 20.85% of the stock is currently owned by institutional investors and hedge funds.
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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