Zacks Investment Research downgraded shares of Match Group, Inc. (NASDAQ:MTCH) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
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. “
A number of other equities analysts have also weighed in on the company. Jefferies Group LLC reissued a buy rating and issued a $28.00 target price (up previously from $23.00) on shares of Match Group in a research report on Thursday, August 31st. Bank of America Corporation boosted their target price on Match Group from $21.00 to $30.00 and gave the stock a buy rating in a research report on Tuesday, October 10th. BidaskClub raised Match Group from a sell rating to a hold rating in a research report on Thursday, July 13th. Wells Fargo & Company reissued a buy rating and issued a $29.00 target price (up previously from $21.00) on shares of Match Group in a research report on Thursday, October 19th. Finally, BMO Capital Markets reissued a buy rating and issued a $21.00 target price on shares of Match Group in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Match Group currently has an average rating of Hold and a consensus target price of $29.65.
Shares of Match Group (NASDAQ:MTCH) traded down $1.03 during trading hours on Wednesday, reaching $28.56. The company’s stock had a trading volume of 3,913,418 shares, compared to its average volume of 1,770,000. Match Group has a fifty-two week low of $15.42 and a fifty-two week high of $32.87. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.83. The stock has a market cap of $7,570.00 and a price-to-earnings ratio of 45.59.
Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). Match Group had a return on equity of 30.58% and a net margin of 34.06%. The business had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $329.19 million. During the same period last year, the firm posted $0.23 EPS. Match Group’s quarterly revenue was up 19.4% compared to the same quarter last year. sell-side analysts anticipate that Match Group will post 0.63 EPS for the current year.
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In related news, Vice Chairman Sam Yagan sold 54,625 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $19.31, for a total value of $1,054,808.75. Following the completion of the sale, the insider now directly owns 98,854 shares of the company’s stock, valued at approximately $1,908,870.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Jared F. Sine sold 64,436 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was 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 directly owns 64,436 shares of the company’s stock, valued at $1,318,360.56. The disclosure for this sale can be found here. Insiders sold a total of 902,498 shares of company stock valued at $19,287,878 over the last three months. 18.10% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Match Group by 34.8% in the 2nd quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock worth $108,945,000 after acquiring an additional 1,617,950 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Match Group by 0.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,377,345 shares of the technology company’s stock worth $93,457,000 after acquiring an additional 20,060 shares in the last quarter. Light Street Capital Management LLC purchased a new stake in Match Group in the 2nd quarter worth approximately $39,974,000. Voya Investment Management LLC increased its holdings in Match Group by 16.4% in the 2nd quarter. Voya Investment Management LLC now owns 1,674,074 shares of the technology company’s stock worth $29,095,000 after acquiring an additional 235,355 shares in the last quarter. Finally, Mik Capital LLC purchased a new stake in Match Group in the 2nd quarter worth approximately $23,043,000. 19.95% of the stock is owned by institutional investors.
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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