Match Group Inc (MTCH) Downgraded by Vetr Inc. to Buy

Match Group Inc (NASDAQ:MTCH) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday, May 8th. They presently have a $21.33 price objective on the technology company’s stock. Vetr‘s price target would indicate a potential upside of 11.97% from the company’s previous close.

MTCH has been the subject of several other reports. Citigroup Inc started coverage on Match Group in a report on Monday, March 27th. They issued a “buy” rating and a $22.00 price objective for the company. Zacks Investment Research upgraded Match Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 17th. Piper Jaffray Companies started coverage on Match Group in a report on Tuesday, April 4th. They issued an “overweight” rating and a $21.00 price objective for the company. Aegis restated a “buy” rating on shares of Match Group in a report on Saturday, January 21st. Finally, Jefferies Group LLC initiated coverage on shares of Match Group in a report on Tuesday, April 18th. They issued a “buy” rating and a $21.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $20.47.

Analyst Recommendations for Match Group (NASDAQ:MTCH)

Shares of Match Group (NASDAQ:MTCH) traded up 0.52% on Monday, hitting $19.15. 605,011 shares of the stock were exchanged. The company has a 50-day moving average price of $18.15 and a 200 day moving average price of $17.50. Match Group has a 12 month low of $13.15 and a 12 month high of $20.00. The company has a market cap of $4.95 billion, a PE ratio of 28.67 and a beta of 0.86.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, May 2nd. The technology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by $0.01. The firm had revenue of $298.76 million during the quarter, compared to the consensus estimate of $314.94 million. Match Group had a net margin of 14.02% and a return on equity of 47.04%. Equities analysts forecast that Match Group will post $0.88 EPS for the current fiscal year.

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In related news, insider Amarnath Thombre sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $19.26, for a total value of $5,778,000.00. Following the sale, the insider now owns 197,640 shares in the company, valued at $3,806,546.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. 19.90% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in MTCH. Keybank National Association OH raised its stake in Match Group by 0.7% in the first quarter. Keybank National Association OH now owns 38,657 shares of the technology company’s stock valued at $631,000 after buying an additional 259 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Match Group by 12.8% in the third quarter. PNC Financial Services Group Inc. now owns 7,048 shares of the technology company’s stock worth $125,000 after buying an additional 800 shares during the period. TD Asset Management Inc. raised its position in shares of Match Group by 0.8% in the first quarter. TD Asset Management Inc. now owns 104,000 shares of the technology company’s stock worth $1,698,000 after buying an additional 806 shares during the period. Teachers Advisors LLC raised its position in shares of Match Group by 4.1% in the first quarter. Teachers Advisors LLC now owns 28,565 shares of the technology company’s stock worth $466,000 after buying an additional 1,120 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in shares of Match Group by 19.9% in the first quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock worth $114,000 after buying an additional 1,156 shares during the period. Institutional investors and hedge funds 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.

5 Day Chart for NASDAQ:MTCH

To view Vetr’s full report, visit Vetr’s official website.

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