Match Group (MTCH) Lowered to “Buy” at BidaskClub

BidaskClub cut shares of Match Group (NASDAQ:MTCH) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday morning.

A number of other brokerages have also weighed in on MTCH. Evercore ISI initiated coverage on shares of Match Group in a research note on Tuesday, December 5th. They set an outperform rating and a $34.00 target price for the company. Wells Fargo & Co reiterated an outperform rating and set a $38.00 target price (up from $33.00) on shares of Match Group in a research note on Monday, January 8th. Zacks Investment Research upgraded shares of Match Group from a strong sell rating to a hold rating and set a $28.00 target price for the company in a research note on Wednesday, October 4th. Jefferies Group reiterated a buy rating and set a $28.00 target price on shares of Match Group in a research note on Saturday, September 30th. Finally, Deutsche Bank reiterated a buy rating and set a $33.00 target price on shares of Match Group in a research note on Wednesday, November 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $32.77.

Shares of Match Group (NASDAQ:MTCH) traded up $0.34 on Tuesday, reaching $32.64. 876,807 shares of the company’s stock were exchanged, compared to its average volume of 1,350,000. The stock has a market cap of $8,920.00 and a price-to-earnings ratio of 21.76. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.92 and a current ratio of 0.92. Match Group has a 1-year low of $15.42 and a 1-year high of $33.08.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, November 7th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The company had revenue of $343.40 million for the quarter, compared to analysts’ expectations of $329.19 million. Match Group had a net margin of 34.06% and a return on equity of 31.18%. Match Group’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. research analysts expect that Match Group will post 0.62 earnings per share for the current fiscal year.

In other news, Director Ann Mcdaniel sold 11,119 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $30.62, for a total value of $340,463.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 18.10% of the company’s stock.

Several large investors have recently bought and sold shares of MTCH. Cubist Systematic Strategies LLC increased its stake in shares of 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 purchasing an additional 5,333 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake 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 purchased a new stake in Match Group in the 3rd quarter worth $162,000. BNP Paribas Arbitrage SA increased its stake 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. increased its stake 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. Hedge funds and other institutional investors own 20.97% of the company’s stock.

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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.

Analyst Recommendations for Match Group (NASDAQ:MTCH)

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