Match Group (MTCH) Lowered to “Neutral” at JPMorgan Chase & Co.

Match Group (NASDAQ:MTCH) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Wednesday, The Fly reports.

Several other research analysts have also recently commented on MTCH. Aegis reaffirmed a “buy” rating and set a $45.00 target price (up from $42.00) on shares of Match Group in a report on Friday, February 16th. Barclays raised their target price on shares of Match Group from $30.00 to $37.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. BMO Capital Markets raised their target price on shares of Match Group from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, February 8th. Vetr cut shares of Match Group from a “buy” rating to a “hold” rating and set a $37.10 target price on the stock. in a report on Thursday, February 8th. Finally, Bank of America raised their target price on shares of Match Group from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $36.51.

Shares of Match Group (MTCH) opened at $42.10 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 2.40. The stock has a market cap of $11,351.99, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 2.86 and a beta of 0.91. Match Group has a 1 year low of $15.42 and a 1 year high of $42.67.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.14). The company had revenue of $379.00 million for the quarter, compared to analyst estimates of $362.86 million. Match Group had a return on equity of 30.34% and a net margin of 26.31%. The company’s revenue was up 28.5% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share. sell-side analysts anticipate that Match Group will post 0.91 EPS for the current fiscal year.

In other Match Group news, President Sharmistha Dubey sold 141,149 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $37.99, for a total transaction of $5,362,250.51. Following the sale, the president now owns 78,650 shares of the company’s stock, valued at $2,987,913.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gary Swidler sold 90,089 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $41.54, for a total transaction of $3,742,297.06. Following the sale, the chief financial officer now directly owns 333,090 shares in the company, valued at approximately $13,836,558.60. The disclosure for this sale can be found here. Insiders sold 252,310 shares of company stock worth $9,825,116 over the last three months. 18.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Match Group by 34.8% during the second quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock worth $108,945,000 after buying an additional 1,617,950 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Match Group by 163.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,649,016 shares of the technology company’s stock worth $82,940,000 after purchasing an additional 1,645,294 shares during the period. BlackRock Inc. lifted its holdings in shares of Match Group by 4.7% during the fourth quarter. BlackRock Inc. now owns 1,714,016 shares of the technology company’s stock worth $53,665,000 after purchasing an additional 76,567 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Match Group by 356.0% during the fourth quarter. Macquarie Group Ltd. now owns 1,580,750 shares of the technology company’s stock worth $49,494,000 after purchasing an additional 1,234,092 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Match Group by 306.1% during the fourth quarter. First Trust Advisors LP now owns 1,431,403 shares of the technology company’s stock worth $44,817,000 after purchasing an additional 1,078,925 shares during the period. 21.35% of the stock is currently owned by hedge funds and other institutional investors.

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About Match Group

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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