Zacks Investment Research upgraded shares of Match Group (NASDAQ:MTCH) from a hold rating to a buy rating in a research note published on Saturday morning. They currently have $50.00 price target on the technology company’s stock.
According to Zacks, “Match Group, Inc. offers subscription-based online dating websites and applications services. The company’s dating products brands consists of Match, OkCupid, Tinder, PlentyOfFish, Meetic, Twoo, OurTime and FriendScout24. Match Group, Inc. is headquartered in Dallas, Texas. “
Several other brokerages have also issued reports on MTCH. TheStreet lowered Match Group from a b- rating to a c rating in a research note on Wednesday, February 7th. BidaskClub raised Match Group from a hold rating to a buy rating in a research note on Tuesday, December 19th. Evercore ISI started coverage on Match Group in a research note on Tuesday, December 5th. They set an outperform rating and a $34.00 price target on the stock. Wells Fargo & Co reaffirmed an outperform rating and set a $38.00 price target (up previously from $33.00) on shares of Match Group in a research note on Monday, January 8th. Finally, Deutsche Bank reaffirmed a buy rating and set a $33.00 price target on shares of Match Group in a research note on Wednesday, November 15th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Match Group has a consensus rating of Buy and an average target price of $39.32.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). Match Group had a return on equity of 31.33% and a net margin of 26.31%. The business had revenue of $379.00 million during the quarter, compared to analyst estimates of $362.86 million. During the same period in the prior year, the firm posted $0.29 EPS. Match Group’s revenue for the quarter was up 28.5% compared to the same quarter last year. sell-side analysts expect that Match Group will post 0.98 EPS for the current year.
In other Match Group news, insider Philip D. Eigenmann sold 10,816 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.72, for a total value of $451,243.52. Following the transaction, the insider now owns 21,686 shares of the company’s stock, valued at $904,739.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Philip D. Eigenmann sold 7,081 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $39.94, for a total value of $282,815.14. Following the completion of the transaction, the chief accounting officer now directly owns 12,500 shares in the company, valued at approximately $499,250. The disclosure for this sale can be found here. Insiders sold 721,437 shares of company stock worth $28,580,747 in the last three months. Insiders own 18.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado lifted its stake in Match Group by 211.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 3,584 shares of the technology company’s stock valued at $112,000 after buying an additional 2,434 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Match Group by 2,627.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,737 shares of the technology company’s stock valued at $117,000 after buying an additional 3,600 shares during the period. Delpha Capital Management LLC acquired a new position in Match Group in the fourth quarter valued at about $138,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Match Group by 122.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,462 shares of the technology company’s stock valued at $140,000 after buying an additional 2,460 shares during the period. Finally, Parametrica Management Ltd acquired a new position in Match Group in the fourth quarter valued at about $209,000. 21.96% of the stock is currently owned by hedge funds and other institutional investors.
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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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