Zacks Investment Research upgraded shares of Match Group, Inc. (NASDAQ:MTCH) from a strong sell rating to a hold rating in a research report report published on Wednesday morning. They currently have $28.00 price objective on the technology company’s stock.
According to Zacks, “Match Group, Inc. offers subscription-based online dating websites and applications services. The company’s dating products brands consists of Match, OkCupid, Tinder, PlentyOfFish, Meetic, Twoo, OurTime and FriendScout24. Match Group, Inc. is headquartered in Dallas, Texas. “
Other research analysts also recently issued research reports about the company. Jefferies Group LLC reaffirmed a buy rating and set a $28.00 target price on shares of Match Group in a report on Saturday, September 30th. UBS AG raised their price target on Match Group from $22.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, September 20th. BMO Capital Markets reissued a buy rating and issued a $21.00 price target on shares of Match Group in a report on Wednesday, September 13th. Vetr downgraded Match Group from a strong-buy rating to a buy rating and set a $19.42 price target on the stock. in a report on Monday, June 19th. Finally, BidaskClub downgraded Match Group from a buy rating to a hold rating in a report on Saturday, June 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Match Group has an average rating of Buy and an average price target of $23.19.
Match Group (NASDAQ MTCH) traded up 0.63% on Wednesday, hitting $25.38. The stock had a trading volume of 850,472 shares. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 36.10 and a beta of 0.56. Match Group has a 12-month low of $15.08 and a 12-month high of $25.57. The company’s 50 day moving average price is $22.43 and its 200-day moving average price is $19.25.
Match Group (NASDAQ:MTCH) last released its earnings results on Tuesday, August 1st. The technology company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Match Group had a return on equity of 34.49% and a net margin of 16.21%. The firm had revenue of $309.57 million for the quarter, compared to the consensus estimate of $310.36 million. During the same period in the prior year, the business earned $0.17 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts anticipate that Match Group will post $0.79 EPS for the current year.
In related news, General Counsel Jared F. Sine sold 64,436 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total value of $1,318,360.56. Following the sale, the general counsel now directly owns 64,436 shares in the company, valued at approximately $1,318,360.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Sam Yagan sold 98,854 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 84,391 shares in the company, valued at $1,611,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 902,498 shares of company stock worth $19,287,878. 18.10% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its position in Match Group by 115.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,520 shares of the technology company’s stock valued at $183,000 after acquiring an additional 5,633 shares during the period. Koch Industries Inc. increased its position in Match Group by 1,409.6% in the 2nd quarter. Koch Industries Inc. now owns 566,085 shares of the technology company’s stock valued at $535,000 after acquiring an additional 528,585 shares during the period. Verition Fund Management LLC acquired a new stake in Match Group in the 2nd quarter valued at approximately $246,000. California State Teachers Retirement System increased its position in Match Group by 13.4% in the 2nd quarter. California State Teachers Retirement System now owns 65,168 shares of the technology company’s stock valued at $1,133,000 after acquiring an additional 7,700 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Match Group by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock valued at $131,000 after acquiring an additional 519 shares during the period. Hedge funds and other institutional investors own 18.97% 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.
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