Match Group (MTCH) Rating Lowered to Buy at BidaskClub

Match Group (NASDAQ:MTCH) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday, March 28th, BidAskClub reports.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded Match Group from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, January 16th. Aegis increased their target price on Match Group from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 8th. Deutsche Bank lowered Match Group from a “buy” rating to a “hold” rating and decreased their target price for the company from $61.00 to $53.86 in a research report on Wednesday, February 6th. SunTrust Banks initiated coverage on Match Group in a research report on Tuesday, December 18th. They set a “hold” rating and a $47.00 target price on the stock. Finally, Summit Insights initiated coverage on Match Group in a research report on Tuesday, December 11th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $53.37.

Shares of Match Group stock traded up $0.50 during midday trading on Thursday, hitting $59.10. The company had a trading volume of 1,049,170 shares, compared to its average volume of 1,486,467. Match Group has a 12-month low of $33.30 and a 12-month high of $61.95. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 12.04. The firm has a market capitalization of $16.46 billion, a P/E ratio of 44.44, a PEG ratio of 2.60 and a beta of 0.57.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Wednesday, February 6th. The technology company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.04. The company had revenue of $457.00 million for the quarter, compared to the consensus estimate of $448.38 million. Match Group had a net margin of 27.48% and a return on equity of 83.21%. Match Group’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS. As a group, research analysts anticipate that Match Group will post 1.41 earnings per share for the current fiscal year.

In other news, President Sharmistha Dubey sold 121,964 shares of Match Group stock in a transaction on Monday, February 11th. The stock was sold at an average price of $57.64, for a total transaction of $7,030,004.96. Following the transaction, the president now owns 83,591 shares in the company, valued at approximately $4,818,185.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Gary Swidler sold 158,795 shares of Match Group stock in a transaction on Monday, February 11th. The stock was sold at an average price of $57.88, for a total value of $9,191,054.60. Following the transaction, the chief financial officer now owns 146,706 shares in the company, valued at approximately $8,491,343.28. The disclosure for this sale can be found here. Insiders sold a total of 345,705 shares of company stock worth $19,966,091 in the last 90 days. 7.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MTCH. PRW Wealth Management LLC acquired a new stake in shares of Match Group during the 4th quarter worth about $43,000. Bell Rock Capital LLC acquired a new stake in shares of Match Group during the 4th quarter worth about $54,000. Cornerstone Advisors Inc. increased its position in shares of Match Group by 863.3% during the 4th quarter. Cornerstone Advisors Inc. now owns 1,339 shares of the technology company’s stock worth $57,000 after purchasing an additional 1,200 shares during the last quarter. Neuburgh Advisers LLC acquired a new stake in shares of Match Group during the 4th quarter worth about $82,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Match Group by 38.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,000 shares of the technology company’s stock worth $86,000 after purchasing an additional 558 shares during the last quarter. Institutional investors and hedge funds own 20.91% of the company’s stock.

About Match Group

Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.

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Analyst Recommendations for Match Group (NASDAQ:MTCH)

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