Match Group (NASDAQ:MTCH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
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. “
A number of other analysts also recently issued reports on MTCH. Jefferies Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of Match Group in a report on Saturday, September 30th. Citigroup lifted their price objective on shares of Match Group from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $28.00 price objective (up from $25.00) on shares of Match Group in a report on Wednesday, October 4th. Bank of America lifted their price objective on shares of Match Group from $21.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 price objective on shares of Match Group in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Match Group currently has an average rating of “Buy” and an average target price of $32.77.
Shares of Match Group (MTCH) opened at $34.73 on Thursday. Match Group has a fifty-two week low of $15.42 and a fifty-two week high of $34.75. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 2.40. The stock has a market cap of $9,285.63, a price-to-earnings ratio of 57.62, a PEG ratio of 3.15 and a beta of 0.76.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Match Group had a return on equity of 31.18% and a net margin of 34.06%. The company had revenue of $343.40 million for the quarter, compared to the consensus estimate of $329.19 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. research analysts predict that Match Group will post 0.62 earnings per share for the current fiscal year.
In related news, Director Ann Mcdaniel sold 11,119 shares of Match Group stock in a transaction on Monday, November 27th. The shares were sold at an average price of $30.62, for a total value of $340,463.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.10% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Rathbone Brothers plc purchased a new position in Match Group in the 4th quarter worth $21,103,000. IFP Advisors Inc raised its position in Match Group by 61.7% in the 4th quarter. IFP Advisors Inc now owns 6,912 shares of the technology company’s stock worth $216,000 after purchasing an additional 2,638 shares during the period. Schwab Charles Investment Management Inc. raised its position in Match Group by 28.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 184,402 shares of the technology company’s stock worth $5,774,000 after purchasing an additional 40,519 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in Match Group by 2,627.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,737 shares of the technology company’s stock worth $117,000 after purchasing an additional 3,600 shares during the period. Finally, GSA Capital Partners LLP raised its position in Match Group by 48.3% in the 3rd quarter. GSA Capital Partners LLP now owns 22,147 shares of the technology company’s stock worth $514,000 after purchasing an additional 7,210 shares during the period. Institutional investors own 20.97% of the company’s stock.
Match Group Company Profile
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.