Match Group (MTCH) Rating Increased to Strong-Buy at BidaskClub

Match Group (NASDAQ:MTCH) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group upgraded shares of Match Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $40.00 to $50.00 in a report on Monday, June 11th. ValuEngine upgraded shares of Match Group from a “hold” rating to a “buy” rating in a report on Saturday, May 26th. Aegis boosted their price target on shares of Match Group from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, September 12th. Deutsche Bank boosted their price target on shares of Match Group from $50.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 17th. Finally, Barclays boosted their price target on shares of Match Group from $39.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, August 9th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Match Group has a consensus rating of “Buy” and an average target price of $43.94.

MTCH stock opened at $59.21 on Friday. Match Group has a 52-week low of $22.78 and a 52-week high of $60.75. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 2.18. The company has a market cap of $15.52 billion, a PE ratio of 113.87, a PEG ratio of 3.66 and a beta of 0.40.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.10. Match Group had a net margin of 32.94% and a return on equity of 53.18%. The business had revenue of $421.20 million for the quarter, compared to analyst estimates of $413.07 million. equities research analysts anticipate that Match Group will post 1.23 EPS for the current fiscal year.

In related news, CFO Gary Swidler sold 105,611 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $49.57, for a total transaction of $5,235,137.27. Following the transaction, the chief financial officer now directly owns 266,010 shares of the company’s stock, valued at $13,186,115.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amanda Ginsberg sold 106,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $49.37, for a total transaction of $5,275,184.50. Following the transaction, the chief executive officer now directly owns 62,682 shares in the company, valued at $3,094,610.34. The disclosure for this sale can be found here. Insiders have sold 251,000 shares of company stock worth $12,382,872 over the last ninety days. 7.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its position in Match Group by 12.3% during the second quarter. CIBC Asset Management Inc now owns 9,612 shares of the technology company’s stock valued at $372,000 after purchasing an additional 1,056 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in Match Group by 48.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 4,067 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,336 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Match Group by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 182,856 shares of the technology company’s stock worth $8,126,000 after acquiring an additional 1,535 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Match Group by 23.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,353 shares of the technology company’s stock worth $549,000 after acquiring an additional 2,368 shares in the last quarter. Finally, TLP Group LLC grew its position in Match Group by 12,204.8% in the first quarter. TLP Group LLC now owns 2,584 shares of the technology company’s stock worth $115,000 after acquiring an additional 2,563 shares in the last quarter. 22.59% of the stock is currently owned by hedge funds and other institutional investors.

About Match Group

Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.

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Analyst Recommendations for Match Group (NASDAQ:MTCH)

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