Match Group, Inc. (NASDAQ:MTCH)‘s stock had its “neutral” rating restated by investment analysts at Goldman Sachs Group, Inc. (The) in a report released on Wednesday. They presently have a $25.00 price target on the technology company’s stock. Goldman Sachs Group, Inc. (The)’s target price points to a potential downside of 2.87% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the company. BidaskClub downgraded Match Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 price objective (up previously from $23.00) on shares of Match Group in a research report on Thursday, August 31st. Zacks Investment Research downgraded Match Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Bank of America Corporation increased their price objective on Match Group from $21.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Vetr downgraded Match Group from a “strong-buy” rating to a “buy” rating and set a $19.42 price objective on the stock. in a research report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $25.10.
Shares of Match Group (NASDAQ:MTCH) traded up 1.535% during trading on Wednesday, hitting $26.135. The stock had a trading volume of 496,916 shares. The firm’s 50 day moving average is $23.21 and its 200 day moving average is $19.52. Match Group has a 1-year low of $15.08 and a 1-year high of $26.24. The company has a market cap of $6.85 billion, a PE ratio of 37.176 and a beta of 0.56.
Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, August 1st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.03). Match Group had a return on equity of 34.49% and a net margin of 16.21%. The business had revenue of $309.57 million during the quarter, compared to analysts’ expectations of $310.36 million. During the same quarter last year, the business posted $0.17 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts anticipate that Match Group will post $0.79 EPS for the current fiscal year.
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In other news, Vice Chairman Sam Yagan sold 98,854 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $19.10, for a total transaction of $1,888,111.40. Following the transaction, the insider now directly owns 84,391 shares of the company’s stock, valued at $1,611,868.10. 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 firm’s stock in a transaction dated 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 $1,318,360.56. The disclosure for this sale can be found here. Insiders have sold 902,498 shares of company stock worth $19,287,878 in the last 90 days. Company insiders own 18.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. Mik Capital LLC bought a new position in shares of Match Group during the second quarter valued at about $23,043,000. Schwab Charles Investment Management Inc. grew its stake in shares of Match Group by 9.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 103,464 shares of the technology company’s stock valued at $1,690,000 after buying an additional 9,357 shares during the last quarter. D L Carlson Investment Group Inc. grew its stake in shares of Match Group by 14.9% during the second quarter. D L Carlson Investment Group Inc. now owns 163,910 shares of the technology company’s stock valued at $2,849,000 after buying an additional 21,275 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Match Group by 23.5% during the first quarter. Stifel Financial Corp now owns 35,570 shares of the technology company’s stock valued at $580,000 after buying an additional 6,770 shares during the last quarter. Finally, Soros Fund Management LLC grew its stake in shares of Match Group by 144.0% during the first quarter. Soros Fund Management LLC now owns 36,600 shares of the technology company’s stock valued at $598,000 after buying an additional 21,600 shares during 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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