Analysts Set Match Group, Inc. (MTCH) Price Target at $21.04
Shares of Match Group, Inc. (NASDAQ:MTCH) have been assigned an average recommendation of “Buy” from the eighteen analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $21.57.
Several research firms have weighed in on MTCH. UBS AG boosted their price objective on Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday. BidaskClub cut Match Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research cut Match Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Aegis boosted their price objective on Match Group from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, BMO Capital Markets reissued a “buy” rating and issued a $21.00 price objective on shares of Match Group in a research report on Wednesday, September 13th.
Match Group (NASDAQ MTCH) traded up 1.30% during midday trading on Wednesday, reaching $24.15. The company had a trading volume of 1,994,492 shares. Match Group has a 12-month low of $15.08 and a 12-month high of $24.40. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 34.35 and a beta of 0.53. The stock’s 50 day moving average is $20.48 and its 200 day moving average is $18.58.
Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). The company had revenue of $309.57 million for the quarter, compared to analysts’ expectations of $310.36 million. Match Group had a net margin of 16.21% and a return on equity of 34.49%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. Equities research analysts expect that Match Group will post $0.79 earnings per share for the current year.
In other news, Vice Chairman Sam Yagan sold 54,625 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $19.31, for a total transaction of $1,054,808.75. Following the transaction, the insider now owns 98,854 shares of the company’s stock, valued at approximately $1,908,870.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jared F. Sine sold 64,436 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total value of $1,318,360.56. Following the transaction, the general counsel now directly owns 64,436 shares in the company, valued at approximately $1,318,360.56. The disclosure for this sale can be found here. Insiders have sold a total of 902,498 shares of company stock worth $19,287,878 in the last ninety days. Insiders own 18.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MTCH. Cubist Systematic Strategies LLC lifted its position in shares of Match Group by 499.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock valued at $111,000 after buying an additional 5,333 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Match Group by 19.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 6,956 shares of the technology company’s stock valued at $114,000 after buying an additional 1,156 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Match Group by 7.4% during the 2nd 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 last quarter. TLP Group LLC purchased a new position in shares of Match Group during the 1st quarter valued at $154,000. Finally, Private Advisor Group LLC purchased a new position in shares of Match Group during the 1st quarter valued at $174,000. 18.97% of the stock is currently owned by hedge funds and other institutional investors.
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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