Cowen and Company reaffirmed their outperform rating on shares of Match Group, Inc. (NASDAQ:MTCH) in a research note published on Friday. Cowen and Company currently has a $28.00 target price on the technology company’s stock, up from their previous target price of $22.00.
Several other equities research analysts also recently commented on MTCH. Vetr downgraded Match Group from a strong-buy rating to a buy rating and set a $19.42 target price for the company. in a report on Monday, June 19th. Jefferies Group LLC reaffirmed a buy rating and set a $23.00 target price on shares of Match Group in a report on Thursday, June 22nd. Zacks Investment Research downgraded Match Group from a hold rating to a sell rating in a report on Wednesday, July 5th. BidaskClub downgraded Match Group from a hold rating to a sell rating in a report on Thursday, July 6th. Finally, Aegis upped their target price on Match Group from $22.00 to $23.00 and gave the company an outperform rating in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Match Group has an average rating of Buy and a consensus target price of $25.80.
Match Group (NASDAQ MTCH) traded up 0.19% during mid-day trading on Friday, reaching $25.79. The company had a trading volume of 1,065,258 shares. The stock’s 50-day moving average is $23.42 and its 200 day moving average is $19.59. Match Group has a 12 month low of $15.08 and a 12 month high of $26.24. The firm has a market capitalization of $6.76 billion, a P/E ratio of 36.69 and a beta of 0.56.
Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, August 1st. The technology company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). Match Group had a net margin of 16.21% and a return on equity of 34.49%. The company had revenue of $309.57 million for the quarter, compared to analysts’ expectations of $310.36 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, analysts predict that Match Group will post $0.80 earnings per share for the current fiscal year.
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In related news, Vice Chairman Sam Yagan sold 54,625 shares of the stock in a transaction dated Wednesday, August 16th. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jared F. Sine sold 64,436 shares of the stock in a transaction dated 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 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. Over the last three months, insiders sold 902,498 shares of company stock valued at $19,287,878. Company insiders own 18.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC increased its position in Match Group by 499.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock worth $111,000 after purchasing an additional 5,333 shares during the last quarter. 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 worth $131,000 after purchasing an additional 519 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Match Group in the 2nd quarter worth about $176,000. UBS Asset Management Americas Inc. acquired a new position in Match Group in the 1st quarter worth about $181,000. Finally, 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 worth $183,000 after purchasing an additional 5,633 shares during the last quarter. 18.97% of the stock is owned by hedge funds and other 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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