Match Group, Inc. (MTCH) Receives Consensus Rating of “Buy” from Brokerages
Match Group, Inc. (NASDAQ:MTCH) has been given a consensus recommendation of “Buy” by the eighteen research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $20.62.
MTCH has been the topic of several research analyst reports. Zacks Investment Research cut Match Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Aegis boosted their price objective on Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. BidaskClub cut Match Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Match Group in a research report on Thursday, June 22nd. Finally, Vetr cut Match Group from a “strong-buy” rating to a “buy” rating and set a $19.42 price objective on the stock. in a research report on Monday, June 19th.
In other Match Group news, Vice Chairman Sam Yagan sold 54,625 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $19.31, for a total value of $1,054,808.75. Following the sale, the insider now directly owns 98,854 shares in the company, valued at $1,908,870.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 18.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MTCH. Public Employees Retirement System of Ohio raised its stake in Match Group by 115.3% in the second quarter. Public Employees Retirement System of Ohio now owns 10,520 shares of the technology company’s stock worth $183,000 after buying an additional 5,633 shares during the last quarter. Koch Industries Inc. raised its stake in Match Group by 1,409.6% in the second quarter. Koch Industries Inc. now owns 566,085 shares of the technology company’s stock worth $535,000 after buying an additional 528,585 shares during the last quarter. Verition Fund Management LLC bought a new stake in Match Group during the second quarter worth about $246,000. California State Teachers Retirement System raised its stake in Match Group by 13.4% in the second quarter. California State Teachers Retirement System now owns 65,168 shares of the technology company’s stock worth $1,133,000 after buying an additional 7,700 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Match Group by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock worth $131,000 after buying an additional 519 shares during the last quarter. Institutional investors own 21.59% of the company’s stock.
Match Group (MTCH) opened at 18.92 on Friday. Match Group has a 12 month low of $15.05 and a 12 month high of $20.75. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 26.91 and a beta of 0.64. The company’s 50-day moving average is $18.60 and its 200 day moving average is $17.93.
Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The company had revenue of $309.57 million for the quarter, compared to analysts’ expectations of $310.36 million. Match Group had a net margin of 16.21% and a return on equity of 34.49%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. Equities analysts forecast that Match Group will post $0.88 earnings per share for the current fiscal year.
Match Group announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 2nd that permits the company to repurchase 6,000,000 outstanding shares. This repurchase authorization permits the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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Match Group Company Profile
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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