Jefferies Group Analysts Lift Earnings Estimates for Match Group Inc (MTCH)
Match Group Inc (NASDAQ:MTCH) – Stock analysts at Jefferies Group lifted their Q3 2018 earnings per share (EPS) estimates for Match Group in a report issued on Tuesday. Jefferies Group analyst B. Thill now forecasts that the technology company will post earnings of $0.25 per share for the quarter, up from their prior estimate of $0.19. Jefferies Group currently has a “Buy” rating and a $50.00 target price on the stock. Jefferies Group also issued estimates for Match Group’s FY2018 earnings at $1.01 EPS and FY2019 earnings at $1.31 EPS.
Several other brokerages have also recently weighed in on MTCH. TheStreet cut shares of Match Group from a “b-” rating to a “c” rating in a research note on Wednesday, February 7th. BidaskClub raised shares of Match Group from a “hold” rating to a “buy” rating in a research note on Tuesday, December 19th. Evercore ISI started coverage on shares of Match Group in a research report on Tuesday, December 5th. They set an “outperform” rating and a $34.00 target price on the stock. Wells Fargo & Co reiterated an “outperform” rating and set a $38.00 target price (up from $33.00) on shares of Match Group in a research report on Monday, January 8th. Finally, Zacks Investment Research lowered shares of Match Group from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.32.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.14). The firm had revenue of $379.00 million for the quarter, compared to the consensus estimate of $362.86 million. Match Group had a return on equity of 31.33% and a net margin of 26.31%. Match Group’s quarterly revenue was up 28.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in MTCH. Wells Fargo & Company MN lifted its holdings in Match Group by 163.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,649,016 shares of the technology company’s stock valued at $82,940,000 after buying an additional 1,645,294 shares during the period. Macquarie Group Ltd. lifted its holdings in Match Group by 356.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,580,750 shares of the technology company’s stock valued at $49,494,000 after buying an additional 1,234,092 shares during the period. First Trust Advisors LP lifted its holdings in Match Group by 306.1% in the fourth quarter. First Trust Advisors LP now owns 1,431,403 shares of the technology company’s stock valued at $44,817,000 after buying an additional 1,078,925 shares during the period. Rathbone Brothers plc acquired a new position in Match Group in the fourth quarter valued at approximately $21,103,000. Finally, Egerton Capital UK LLP acquired a new position in Match Group in the third quarter valued at approximately $11,792,000. Institutional investors and hedge funds own 21.95% of the company’s stock.
In related news, CFO Gary Swidler sold 90,089 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $41.54, for a total value of $3,742,297.06. Following the transaction, the chief financial officer now directly owns 333,090 shares in the company, valued at $13,836,558.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Philip D. Eigenmann sold 7,081 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $39.94, for a total transaction of $282,815.14. Following the completion of the transaction, the chief accounting officer now owns 12,500 shares in the company, valued at $499,250. The disclosure for this sale can be found here. Insiders sold 721,437 shares of company stock worth $28,580,747 over the last 90 days. 18.10% of the stock is currently owned by company insiders.
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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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