Match Group, Inc. (MTCH) Given New $32.00 Price Target at Aegis
Match Group, Inc. (NASDAQ:MTCH) had its target price upped by Aegis from $29.00 to $32.00 in a report released on Monday. The firm currently has a “buy” rating on the technology company’s stock. Aegis’ price objective points to a potential upside of 12.44% from the company’s previous close.
Several other equities research analysts have also weighed in on MTCH. BMO Capital Markets boosted their target price on Match Group from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday. CIBC restated a “market perform” rating on shares of Match Group in a report on Thursday. Cowen and Company restated a “buy” rating and issued a $33.00 target price on shares of Match Group in a report on Friday. UBS AG lowered Match Group from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $28.00 to $35.00 in a report on Thursday. Finally, Oppenheimer Holdings, Inc. lowered Match Group from an “outperform” rating to a “market perform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $30.72.
Shares of Match Group (MTCH) traded down $0.10 during trading on Monday, hitting $28.46. The stock had a trading volume of 2,676,700 shares, compared to its average volume of 1,422,717. The firm has a market cap of $7,462.55, a price-to-earnings ratio of 48.24, a price-to-earnings-growth ratio of 3.59 and a beta of 0.68. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 2.40. Match Group has a fifty-two week low of $15.42 and a fifty-two week high of $32.87.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). The firm had revenue of $343.40 million for the quarter, compared to analyst estimates of $329.19 million. Match Group had a net margin of 34.06% and a return on equity of 31.18%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. equities research analysts predict that Match Group will post 0.63 EPS for the current year.
In other news, General Counsel Jared F. Sine sold 64,436 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total transaction of $1,318,360.56. Following the sale, the general counsel now directly owns 64,436 shares in the company, valued at $1,318,360.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Sam Yagan sold 54,625 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $19.31, for a total value of $1,054,808.75. Following the sale, the insider now owns 98,854 shares in the company, valued at $1,908,870.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 902,498 shares of company stock worth $19,287,878. Company insiders own 18.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Light Street Capital Management LLC bought a new stake in shares of Match Group during the second quarter valued at approximately $39,974,000. Vanguard Group Inc. increased its position 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 valued at $108,945,000 after purchasing an additional 1,617,950 shares during the period. Mik Capital LLC bought a new stake in shares of Match Group during the second quarter valued at approximately $23,043,000. Wells Fargo & Company MN increased its position in shares of Match Group by 493.8% during the third quarter. Wells Fargo & Company MN now owns 1,003,722 shares of the technology company’s stock valued at $23,276,000 after purchasing an additional 834,681 shares during the period. Finally, black and white Capital LP bought a new stake in shares of Match Group during the second quarter valued at approximately $13,209,000. Institutional investors and hedge funds own 20.04% of the company’s stock.
Match Group Company Profile
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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