Match Group, Inc. (MTCH) Earns Buy Rating from Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Match Group, Inc. (NASDAQ:MTCH) in a research note issued to investors on Saturday. Jefferies Group LLC currently has a $28.00 price target on the technology company’s stock.
Several other equities research analysts have also recently weighed in on the stock. UBS AG increased their target price on shares of Match Group from $22.00 to $28.00 and gave the company a buy rating in a research note on Wednesday, September 20th. BMO Capital Markets restated a buy rating and set a $21.00 price target on shares of Match Group in a research note on Wednesday, September 13th. Zacks Investment Research lowered Match Group from a hold rating to a sell rating in a research note on Saturday, August 5th. Aegis upped their price target on Match Group from $22.00 to $23.00 and gave the company an outperform rating in a report on Thursday, August 3rd. Finally, BidaskClub cut Match Group from a hold rating to a sell rating in a report on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $21.70.
Match Group (NASDAQ MTCH) opened at 24.75 on Friday. Match Group has a 12 month low of $15.08 and a 12 month high of $25.26. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 35.21 and a beta of 0.56. The stock has a 50 day moving average price of $21.90 and a 200 day moving average price of $19.10.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). Match Group had a return on equity of 34.49% and a net margin of 16.21%. The company had revenue of $309.57 million for the quarter, compared to the consensus estimate of $310.36 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts expect that Match Group will post $0.79 earnings per share for the current fiscal year.
In other news, Vice Chairman Sam Yagan sold 98,854 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $19.10, for a total value of $1,888,111.40. Following the sale, the insider now owns 84,391 shares in the company, valued at approximately $1,611,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jared F. Sine sold 64,436 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the completion of the sale, the general counsel now owns 64,436 shares in the company, valued at approximately $1,318,360.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 902,498 shares of company stock valued at $19,287,878. 18.10% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Light Street Capital Management LLC acquired a new stake in shares of Match Group during the 2nd quarter worth about $39,974,000. Vanguard Group Inc. lifted its holdings in Match Group by 34.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock valued at $108,945,000 after purchasing an additional 1,617,950 shares during the last quarter. Mik Capital LLC bought a new position in Match Group during the 2nd quarter valued at about $23,043,000. black and white Capital LP bought a new position in Match Group during the 2nd quarter valued at about $13,209,000. Finally, First Manhattan Co. boosted its position in Match Group by 18,454.2% in the second quarter. First Manhattan Co. now owns 667,950 shares of the technology company’s stock valued at $11,608,000 after buying an additional 664,350 shares in the last quarter. 18.97% of the stock is currently owned by institutional investors and hedge funds.
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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