Deutsche Bank AG Reaffirms “Buy” Rating for Match Group, Inc. (MTCH)

Deutsche Bank AG reissued their buy rating on shares of Match Group, Inc. (NASDAQ:MTCH) in a research report report published on Wednesday. The firm currently has a $33.00 price target on the technology company’s stock.

Other analysts also recently issued research reports about the stock. Bank of America Corporation raised 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. Jefferies Group LLC restated a buy rating and set a $28.00 price objective on shares of Match Group in a report on Saturday, September 30th. UBS AG raised 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, September 20th. BMO Capital Markets restated a buy rating and set a $21.00 price objective on shares of Match Group in a report on Wednesday, September 13th. Finally, Citigroup Inc. raised 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $30.89.

Shares of Match Group (MTCH) opened at $28.82 on Wednesday. The company has a market cap of $7,840.00 and a PE ratio of 49.81. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 2.40. Match Group has a 1-year low of $15.42 and a 1-year high of $32.87.

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 analysts’ expectations of $329.19 million. During the same quarter last year, the business posted $0.23 EPS. The business’s quarterly revenue was up 19.4% on a year-over-year basis. sell-side analysts expect that Match Group will post 0.63 EPS for the current year.

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In other news, General Counsel Jared F. Sine sold 64,436 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $20.46, for a total value of $1,318,360.56. Following the completion of the transaction, the general counsel now directly owns 64,436 shares in the company, valued at $1,318,360.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Sam Yagan sold 98,854 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $19.10, for a total transaction of $1,888,111.40. Following the completion of the transaction, the insider now owns 84,391 shares of the company’s stock, valued at $1,611,868.10. The disclosure for this sale can be found here. Insiders have sold 847,873 shares of company stock valued at $18,233,069 in the last quarter. Company insiders own 18.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Match Group by 34.8% in the second quarter. Vanguard Group Inc. now owns 6,268,369 shares of the technology company’s stock valued at $108,945,000 after acquiring an additional 1,617,950 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Match Group by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 5,377,345 shares of the technology company’s stock valued at $93,457,000 after acquiring an additional 20,060 shares during the period. Light Street Capital Management LLC bought a new position in shares of Match Group in the second quarter valued at approximately $39,974,000. Voya Investment Management LLC boosted its position in shares of Match Group by 16.4% in the second quarter. Voya Investment Management LLC now owns 1,674,074 shares of the technology company’s stock valued at $29,095,000 after acquiring an additional 235,355 shares during the period. Finally, Mik Capital LLC bought a new position in shares of Match Group in the second quarter valued at approximately $23,043,000. Institutional investors own 20.04% 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.

Analyst Recommendations for Match Group (NASDAQ:MTCH)

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