Match Group (NASDAQ:MTCH) was downgraded by 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 price objective on the technology company’s stock, down from their previous price objective of $46.79. UBS’s price target points to a potential downside of 16.88% from the stock’s previous close.
A number of other analysts also recently issued reports on MTCH. BMO Capital Markets raised their price target on Match Group from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Jefferies Group raised their price target on Match Group to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, March 7th. JPMorgan Chase restated an “overweight” rating and issued a $42.00 price target (up from $39.00) on shares of Match Group in a research report on Thursday, February 8th. TheStreet downgraded Match Group from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Finally, Barclays raised their price target on Match Group from $30.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.32.
NASDAQ MTCH opened at $42.11 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.50. The company has a market cap of $11,733.09, a PE ratio of 80.98, a PEG ratio of 3.30 and a beta of 0.29. Match Group has a one year low of $16.54 and a one year high of $47.10.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 6th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 31.33% and a net margin of 26.31%. The firm’s quarterly revenue was up 28.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 earnings per share. sell-side analysts expect that Match Group will post 1.04 EPS for the current year.
In other news, Director Gregory R. Blatt sold 456,673 shares of Match Group stock in a transaction on 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 completion of the sale, the director now directly owns 2,504,859 shares in the company, valued at $99,467,950.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mcdaniel sold 5,676 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $40.09, for a total value of $227,550.84. The disclosure for this sale can be found here. Over 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 made changes to their positions in MTCH. Northern Trust Corp increased its stake in shares of Match Group by 6.2% during the second quarter. Northern Trust Corp now owns 295,192 shares of the technology company’s stock valued at $5,130,000 after buying an additional 17,341 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Match Group by 31.0% during the second quarter. Dimensional Fund Advisors LP now owns 159,660 shares of the technology company’s stock valued at $2,775,000 after buying an additional 37,748 shares during the period. State Street Corp increased its stake in shares of Match Group by 3.1% during the second quarter. State Street Corp now owns 461,163 shares of the technology company’s stock valued at $8,014,000 after buying an additional 13,918 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Match Group by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock valued at $131,000 after buying an additional 519 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Match Group by 13.4% during the second quarter. California State Teachers Retirement System now owns 65,168 shares of the technology company’s stock valued at $1,133,000 after buying an additional 7,700 shares during the period. Hedge funds and other 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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