Match Group (MTCH) Cut to “Buy” at BidaskClub

BidaskClub cut shares of Match Group (NASDAQ:MTCH) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

Several other research firms also recently issued reports on MTCH. Barclays increased their target price on Match Group from $39.00 to $46.00 and gave the stock an equal weight rating in a research report on Thursday, August 9th. Jefferies Financial Group upgraded Match Group from a hold rating to a buy rating and increased their target price for the stock from $40.00 to $50.00 in a research report on Monday, June 11th. BMO Capital Markets increased their target price on Match Group from $45.00 to $52.00 and gave the stock an outperform rating in a research report on Thursday, August 9th. Deutsche Bank increased their target price on Match Group from $50.00 to $56.00 and gave the stock a buy rating in a research report on Friday, August 17th. Finally, Aegis increased their target price on Match Group from $55.00 to $65.00 and gave the stock a buy rating in a research report on Wednesday, September 12th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Match Group presently has a consensus rating of Buy and a consensus target price of $43.94.

NASDAQ:MTCH opened at $55.85 on Friday. The firm has a market cap of $15.33 billion, a price-to-earnings ratio of 107.88, a P/E/G ratio of 3.62 and a beta of 0.36. Match Group has a 1 year low of $22.90 and a 1 year high of $60.95. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 2.18.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, August 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.10. The firm had revenue of $421.20 million for the quarter, compared to the consensus estimate of $413.07 million. Match Group had a return on equity of 53.18% and a net margin of 32.94%. analysts predict that Match Group will post 1.23 earnings per share for the current fiscal year.

In related news, General Counsel Jared F. Sine sold 27,343 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $48.51, for a total value of $1,326,408.93. Following the sale, the general counsel now owns 65,022 shares in the company, valued at $3,154,217.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Amanda Ginsberg sold 11,196 shares of the stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $48.78, for a total value of $546,140.88. Following the completion of the sale, the chief executive officer now owns 19,349 shares in the company, valued at approximately $943,844.22. The disclosure for this sale can be found here. Insiders sold 251,000 shares of company stock worth $12,382,872 in the last quarter. 7.00% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new stake in Match Group during the second quarter valued at about $111,000. TLP Group LLC raised its position in Match Group by 12,204.8% during the first quarter. TLP Group LLC now owns 2,584 shares of the technology company’s stock valued at $115,000 after purchasing an additional 2,563 shares in the last quarter. Financial Architects Inc raised its position in Match Group by 410.3% during the second quarter. Financial Architects Inc now owns 3,649 shares of the technology company’s stock valued at $141,000 after purchasing an additional 2,934 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Match Group during the second quarter valued at about $150,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Match Group by 48.9% during the second quarter. Metropolitan Life Insurance Co. NY now owns 4,067 shares of the technology company’s stock valued at $158,000 after purchasing an additional 1,336 shares in the last quarter. Institutional investors own 22.57% of the company’s stock.

Match Group Company Profile

Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.

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Analyst Recommendations for Match Group (NASDAQ:MTCH)

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