Match Group (MTCH) PT Lowered to $62.00

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Match Group (NASDAQ:MTCH) had its price target cut by Aegis from $65.00 to $62.00 in a research report report published on Friday, Marketbeat Ratings reports. They currently have a buy rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Match Group from $55.00 to $70.00 and gave the company a buy rating in a research note on Thursday, October 4th. Nomura initiated coverage on shares of Match Group in a research note on Thursday, October 11th. They issued a buy rating and a $66.00 price target on the stock. UBS Group boosted their price target on shares of Match Group from $52.00 to $66.00 and gave the company a buy rating in a research note on Wednesday, September 26th. BidaskClub raised shares of Match Group from a buy rating to a strong-buy rating in a research note on Saturday, September 15th. Finally, ValuEngine raised shares of Match Group from a hold rating to a buy rating in a research note on Wednesday, August 8th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $49.82.

NASDAQ:MTCH traded down $0.96 on Friday, hitting $42.71. The stock had a trading volume of 4,308,169 shares, compared to its average volume of 2,954,889. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market capitalization of $11.83 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 2.76 and a beta of 0.74. Match Group has a 1-year low of $27.59 and a 1-year high of $60.95.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, November 6th. The technology company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. The company had revenue of $444.00 million for the quarter, compared to analyst estimates of $438.03 million. Match Group had a net margin of 21.24% and a return on equity of 64.07%. Match Group’s revenue was up 29.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 EPS. As a group, equities analysts anticipate that Match Group will post 1.26 earnings per share for the current fiscal year.

The firm also recently announced a special dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, December 5th will be paid a dividend of $2.00 per share. The ex-dividend date is Tuesday, December 4th.

In related news, CEO Amanda Ginsberg sold 106,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $49.37, for a total transaction of $5,275,184.50. Following the sale, the chief executive officer now directly owns 62,682 shares of the company’s stock, valued at approximately $3,094,610.34. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Gary Swidler sold 105,611 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $49.57, for a total transaction of $5,235,137.27. Following the sale, the chief financial officer now directly owns 266,010 shares in the company, valued at $13,186,115.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,000 shares of company stock worth $12,382,872. 7.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MTCH. BlackRock Inc. increased its stake in Match Group by 64.9% during the 2nd quarter. BlackRock Inc. now owns 2,951,821 shares of the technology company’s stock worth $114,354,000 after buying an additional 1,162,124 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake in Match Group by 626.0% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 992,395 shares of the technology company’s stock worth $57,470,000 after buying an additional 855,707 shares during the period. FIL Ltd increased its stake in Match Group by 303.1% during the 3rd quarter. FIL Ltd now owns 1,073,520 shares of the technology company’s stock worth $62,167,000 after buying an additional 807,194 shares during the period. Millennium Management LLC increased its stake in Match Group by 519.2% during the 2nd quarter. Millennium Management LLC now owns 891,541 shares of the technology company’s stock worth $34,538,000 after buying an additional 747,553 shares during the period. Finally, Morgan Stanley increased its stake in Match Group by 113.9% during the 2nd quarter. Morgan Stanley now owns 1,392,518 shares of the technology company’s stock worth $53,945,000 after buying an additional 741,619 shares during the period. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

About Match Group

Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.

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Analyst Recommendations for Match Group (NASDAQ:MTCH)

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