Match Group, Inc. (NASDAQ:MTCH)‘s stock had its “outperform” rating restated by investment analysts at Cowen and Company in a note issued to investors on Friday. They presently have a $28.00 price target on the technology company’s stock, up from their previous price target of $22.00. Cowen and Company’s price objective would suggest a potential upside of 8.78% from the company’s current price.
Several other brokerages have also recently weighed in on MTCH. Jefferies Group LLC upped their price target on Match Group from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, September 7th. Zacks Investment Research raised Match Group from a “strong sell” rating to a “hold” rating and set a $28.00 price target on the stock in a research note on Wednesday, October 4th. Vetr cut Match Group from a “strong-buy” rating to a “buy” rating and set a $19.42 price target on the stock. in a research note on Monday, June 19th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $28.00 price target (up from $25.00) on shares of Match Group in a research note on Wednesday, October 4th. Finally, BidaskClub cut Match Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Match Group has a consensus rating of “Buy” and a consensus price target of $25.10.
Match Group (NASDAQ:MTCH) opened at 25.74 on Friday. Match Group has a one year low of $15.08 and a one year high of $26.24. The company has a 50 day moving average price of $23.21 and a 200-day moving average price of $19.52. The company has a market capitalization of $6.75 billion, a PE ratio of 36.61 and a beta of 0.56.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, August 1st. The technology company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.03). The firm had revenue of $309.57 million during the quarter, compared to analysts’ expectations of $310.36 million. Match Group had a return on equity of 34.49% and a net margin of 16.21%. Match Group’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 earnings per share. Analysts expect that Match Group will post $0.79 EPS for the current fiscal year.
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In other news, General Counsel Jared F. Sine sold 64,436 shares of the company’s stock in a transaction 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 transaction, the general counsel now directly owns 64,436 shares of the company’s stock, valued at $1,318,360.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Sam Yagan sold 684,583 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $21.95, for a total value of $15,026,596.85. Following the transaction, the insider now directly owns 464,963 shares in the company, valued at $10,205,937.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 902,498 shares of company stock worth $19,287,878. Insiders own 18.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC lifted its holdings in shares of Match Group by 499.8% during the second quarter. Cubist Systematic Strategies LLC now owns 6,400 shares of the technology company’s stock valued at $111,000 after purchasing an additional 5,333 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings 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 purchasing an additional 519 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Match Group during the second quarter valued at $176,000. UBS Asset Management Americas Inc. bought a new position in shares of Match Group during the first quarter valued at $181,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Match Group by 115.3% during the second quarter. Public Employees Retirement System of Ohio now owns 10,520 shares of the technology company’s stock valued at $183,000 after purchasing an additional 5,633 shares in the last quarter. 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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