Oppenheimer Holdings Comments on Match Group, Inc.’s FY2018 Earnings (MTCH)
Match Group, Inc. (NASDAQ:MTCH) – Research analysts at Oppenheimer Holdings raised their FY2018 earnings per share (EPS) estimates for shares of Match Group in a note issued to investors on Wednesday. Oppenheimer Holdings analyst J. Helfstein now anticipates that the technology company will earn $0.79 per share for the year, up from their previous forecast of $0.74. Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Match Group’s FY2020 earnings at $1.18 EPS.
MTCH has been the topic of several other research reports. Bank of America Corporation upped their price objective on Match Group from $21.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 10th. Jefferies Group LLC restated a “buy” rating and set a $28.00 price objective (up previously from $23.00) on shares of Match Group in a research note on Thursday, August 31st. UBS AG upped their price objective on Match Group from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 20th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $25.00 price objective on shares of Match Group in a research note on Wednesday, October 11th. Finally, BMO Capital Markets restated a “buy” rating and set a $21.00 price objective on shares of Match Group in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.72.
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Shares of Match Group (NASDAQ:MTCH) traded up $0.31 during midday trading on Monday, reaching $29.00. The company’s stock had a trading volume of 997,680 shares, compared to its average volume of 1,890,000. Match Group has a 12-month low of $15.42 and a 12-month high of $32.87. The firm has a market capitalization of $7,920.00 and a PE ratio of 48.24. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.92 and a quick ratio of 0.92.
Match Group (NASDAQ:MTCH) last announced its quarterly earnings data 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). Match Group had a net margin of 34.06% and a return on equity of 31.18%. The firm had revenue of $343.40 million for the quarter, compared to analyst estimates of $329.19 million. During the same quarter in the previous year, the company earned $0.23 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year.
In related news, Vice Chairman Sam Yagan sold 684,583 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $21.95, for a total value of $15,026,596.85. Following the completion of the transaction, the insider now directly owns 464,963 shares of the company’s stock, valued at approximately $10,205,937.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jared F. Sine sold 64,436 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $20.46, for a total value of $1,318,360.56. Following the completion of the transaction, the general counsel now directly owns 64,436 shares of the company’s stock, valued at $1,318,360.56. The disclosure for this sale can be found here. Insiders have sold 902,498 shares of company stock valued at $19,287,878 over the last ninety days. Corporate insiders own 18.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of MTCH. Cubist Systematic Strategies LLC grew its holdings in Match Group by 499.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock worth $111,000 after buying an additional 5,333 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Match Group by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,525 shares of the technology company’s stock worth $131,000 after buying an additional 519 shares in the last quarter. Turner Investments LLC bought a new position in Match Group in the 3rd quarter worth approximately $162,000. BNP Paribas Arbitrage SA grew its holdings in Match Group by 162.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,035 shares of the technology company’s stock worth $163,000 after buying an additional 4,359 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Match Group by 40.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 7,354 shares of the technology company’s stock worth $172,000 after buying an additional 2,129 shares in the last quarter. 20.04% of the stock is owned by institutional investors and hedge funds.
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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