Citigroup Inc. reaffirmed their buy rating on shares of Match Group, Inc. (NASDAQ:MTCH) in a research report released on Thursday. Citigroup Inc. currently has a $35.00 price objective on the technology company’s stock.
A number of other research analysts also recently issued reports on MTCH. UBS AG downgraded Match Group from an outperform rating to a market perform rating and increased their price objective for the stock from $28.00 to $35.00 in a report on Thursday. Piper Jaffray Companies reiterated an overweight rating and set a $33.00 price objective (up from $28.00) on shares of Match Group in a report on Wednesday. Wells Fargo & Company reiterated a buy rating on shares of Match Group in a report on Tuesday. Zacks Investment Research downgraded Match Group from a buy rating to a hold rating in a research note on Wednesday. Finally, Jefferies Group LLC restated a buy rating and issued a $28.00 price target on shares of Match Group in a research note on Saturday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $30.03.
Match Group (NASDAQ:MTCH) traded down $0.10 during trading hours on Thursday, hitting $28.46. The company had a trading volume of 2,676,700 shares, compared to its average volume of 1,422,717. 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 $7,488.77, a P/E ratio of 48.41, a PEG ratio of 3.58 and a beta of 0.68. Match Group has a fifty-two week low of $15.42 and a fifty-two week high of $32.87.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The firm 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 firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. research analysts anticipate that Match Group will post 0.63 EPS for the current year.
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In other 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Sam Yagan sold 684,583 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $21.95, for a total value of $15,026,596.85. Following the completion of the sale, the insider now directly owns 464,963 shares of the company’s stock, valued at $10,205,937.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 902,498 shares of company stock valued at $19,287,878. Insiders own 18.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. UBS Asset Management Americas Inc. acquired a new stake in shares of Match Group in the first quarter valued at approximately $181,000. Parametric Portfolio Associates LLC lifted its position in shares of Match Group by 127.7% in the first quarter. Parametric Portfolio Associates LLC now owns 79,455 shares of the technology company’s stock valued at $1,298,000 after buying an additional 44,553 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Match Group by 47.1% in the first quarter. Vanguard Group Inc. now owns 4,650,419 shares of the technology company’s stock valued at $75,941,000 after buying an additional 1,488,472 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Match Group by 9.1% in the first quarter. Geode Capital Management LLC now owns 331,432 shares of the technology company’s stock valued at $5,412,000 after buying an additional 27,783 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Match Group by 477.3% in the first quarter. Dimensional Fund Advisors LP now owns 121,912 shares of the technology company’s stock valued at $1,991,000 after buying an additional 100,793 shares during the last quarter. 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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