Match Group (NASDAQ:MTCH) was downgraded by investment analysts at UBS from a “buy” rating to a “neutral” rating in a research note issued on Thursday, March 15th, 247wallst.com reports. They currently have a $35.00 target price on the technology company’s stock, down from their previous target price of $46.79. UBS’s price target suggests a potential downside of 22.70% from the stock’s previous close.
Several other brokerages also recently commented on MTCH. Zacks Investment Research raised Match Group from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Saturday, March 10th. Wells Fargo downgraded Match Group from an “outperform” rating to a “market perform” rating in a report on Friday, March 9th. Jefferies Group upped their price objective on Match Group to $50.00 and gave the stock a “buy” rating in a report on Wednesday, March 7th. JPMorgan Chase & Co. downgraded Match Group from an “overweight” rating to a “neutral” rating and set a $42.00 price objective on the stock. in a report on Wednesday, February 21st. Finally, Aegis reaffirmed a “buy” rating and set a $45.00 price objective (up previously from $42.00) on shares of Match Group in a report on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $39.32.
MTCH stock traded up $1.08 during mid-day trading on Thursday, hitting $45.28. The stock had a trading volume of 787,525 shares, compared to its average volume of 1,965,576. Match Group has a 52 week low of $15.42 and a 52 week high of $46.95. The company has a market cap of $12,536.88, a price-to-earnings ratio of 38.27, a P/E/G ratio of 3.53 and a beta of 0.45. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.40 and a current ratio of 1.40.
Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.14). The company had revenue of $379.00 million during the quarter, compared to the consensus estimate of $362.86 million. Match Group had a net margin of 26.31% and a return on equity of 31.33%. The company’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.29 earnings per share. research analysts expect that Match Group will post 1.04 earnings per share for the current fiscal year.
In other news, insider Philip D. Eigenmann sold 10,816 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.72, for a total transaction of $451,243.52. Following the completion of the transaction, the insider now directly owns 21,686 shares in the company, valued at approximately $904,739.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gregory R. Blatt sold 456,673 shares of the stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $39.71, for a total transaction of $18,134,484.83. Following the transaction, the director now owns 2,504,859 shares of the company’s stock, valued at $99,467,950.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 721,437 shares of company stock valued at $28,580,747. Corporate insiders own 18.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its stake in Match Group by 163.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,649,016 shares of the technology company’s stock valued at $82,940,000 after purchasing an additional 1,645,294 shares during the last quarter. BlackRock Inc. lifted its stake in Match Group by 4.7% in the 4th quarter. BlackRock Inc. now owns 1,714,016 shares of the technology company’s stock valued at $53,665,000 after purchasing an additional 76,567 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Match Group by 356.0% in the 4th quarter. Macquarie Group Ltd. now owns 1,580,750 shares of the technology company’s stock valued at $49,494,000 after purchasing an additional 1,234,092 shares during the last quarter. First Trust Advisors LP lifted its stake in Match Group by 306.1% in the 4th quarter. First Trust Advisors LP now owns 1,431,403 shares of the technology company’s stock valued at $44,817,000 after purchasing an additional 1,078,925 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in Match Group by 33.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 937,605 shares of the technology company’s stock valued at $21,743,000 after purchasing an additional 236,331 shares during the last quarter. Institutional investors own 21.85% of the company’s stock.
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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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