Match Group, Inc. (NASDAQ:MTCH) – Oppenheimer Holdings cut their FY2019 earnings per share (EPS) estimates for shares of Match Group in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst J. Helfstein now forecasts that the technology company will post earnings per share of $0.98 for the year, down from their previous estimate of $1.00. Oppenheimer Holdings currently has a “Market Perform” rating on the stock.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The company had revenue of $343.40 million for the quarter, compared to the consensus estimate of $329.19 million. Match Group had a return on equity of 30.58% and a net margin of 34.06%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share.
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A number of other brokerages have also commented on MTCH. Citigroup Inc. reissued a “buy” rating and set a $35.00 price objective on shares of Match Group in a report on Thursday. UBS AG downgraded Match Group from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $28.00 to $35.00 in a research note on Thursday. BMO Capital Markets upped their price objective on Match Group from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday. Jefferies Group LLC upped their price objective on Match Group from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Finally, CIBC reiterated a “market perform” rating on shares of Match Group in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $30.03.
Shares of Match Group (NASDAQ:MTCH) opened at $28.46 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.82 and a current ratio of 1.82. The company has a market capitalization of $7,462.55, a P/E ratio of 48.24, a price-to-earnings-growth ratio of 3.57 and a beta of 0.68. Match Group has a twelve month low of $15.42 and a twelve month high of $32.87.
In other Match Group news, Vice Chairman Sam Yagan sold 98,854 shares of Match Group 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 of the company’s stock, valued at approximately $1,611,868.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Jared F. Sine sold 64,436 shares of Match Group stock in a transaction 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 transaction, the general counsel now owns 64,436 shares in the company, valued at approximately $1,318,360.56. The disclosure for this sale can be found here. Insiders have sold 902,498 shares of company stock valued at $19,287,878 in the last ninety days. Insiders own 18.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Light Street Capital Management LLC bought a new stake in shares of Match Group in the 2nd quarter worth about $39,974,000. Vanguard Group Inc. boosted its position 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 valued at $108,945,000 after buying an additional 1,617,950 shares during the period. Mik Capital LLC purchased a new stake in Match Group in the 2nd quarter valued at about $23,043,000. Wells Fargo & Company MN lifted its position in shares of Match Group by 493.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,003,722 shares of the technology company’s stock worth $23,276,000 after purchasing an additional 834,681 shares during the period. Finally, black and white Capital LP purchased a new stake in shares of Match Group in the 2nd quarter worth approximately $13,209,000. Institutional investors own 19.95% of the company’s stock.
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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