Match Group (NASDAQ:MTCH) Earns Overweight Rating from Analysts at KeyCorp

KeyCorp began coverage on shares of Match Group (NASDAQ:MTCH) in a research note issued to investors on Monday, Benzinga reports. The firm issued an overweight rating and a $138.00 price objective on the technology company’s stock.

Several other equities analysts have also issued reports on the company. BidaskClub raised Match Group from a sell rating to a hold rating in a research note on Friday, July 31st. BTIG Research started coverage on Match Group in a research note on Wednesday, June 10th. They issued a buy rating on the stock. Barclays reissued a hold rating and issued a $110.00 price target on shares of Match Group in a research note on Thursday, August 6th. TheStreet lowered Match Group from a b- rating to a c+ rating in a research note on Monday, August 10th. Finally, Goldman Sachs Group began coverage on Match Group in a research report on Wednesday, July 8th. They set a neutral rating and a $86.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Match Group has a consensus rating of Buy and an average price target of $112.70.

Shares of MTCH stock opened at $108.30 on Monday. The business’s 50 day simple moving average is $110.58 and its 200 day simple moving average is $88.00. Match Group has a one year low of $87.56 and a one year high of $123.00. The stock has a market capitalization of $9.21 billion, a PE ratio of 470.89, a PEG ratio of 4.14 and a beta of 1.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.98 and a quick ratio of 0.98.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Match Group had a return on equity of 14.15% and a net margin of 1.99%. The firm had revenue of $555.45 million for the quarter, compared to analyst estimates of $533.75 million. During the same period in the previous year, the firm earned $0.43 earnings per share. The company’s revenue was up 11.5% compared to the same quarter last year. As a group, research analysts expect that Match Group will post 2.16 earnings per share for the current year.

In other Match Group news, Director Glenn Schiffman sold 50,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $116.62, for a total value of $5,831,000.00. Following the completion of the transaction, the director now owns 59,898 shares in the company, valued at approximately $6,985,304.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Levin sold 458,660 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $97.40, for a total value of $44,673,484.00. Following the transaction, the director now owns 576,450 shares of the company’s stock, valued at approximately $56,146,230. The disclosure for this sale can be found here. Insiders sold a total of 616,541 shares of company stock valued at $62,318,273 in the last 90 days. Corporate insiders own 11.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of MTCH. Nuveen Asset Management LLC grew its stake in shares of Match Group by 810.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,964,197 shares of the technology company’s stock worth $8,517,000 after acquiring an additional 6,199,674 shares during the period. Wellington Management Group LLP bought a new position in shares of Match Group during the 1st quarter worth $295,380,000. Lone Pine Capital LLC grew its stake in shares of Match Group by 125.4% during the 1st quarter. Lone Pine Capital LLC now owns 6,845,734 shares of the technology company’s stock worth $452,092,000 after acquiring an additional 3,808,603 shares during the period. Janus Henderson Group PLC grew its stake in shares of Match Group by 1,073.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,726,239 shares of the technology company’s stock worth $180,048,000 after acquiring an additional 2,493,840 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Match Group during the 2nd quarter worth $225,392,000. Institutional investors own 89.19% of the company’s stock.

Match Group Company Profile

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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