Match Group (MTCH) PT Raised to $66.00 at UBS Group

Match Group (NASDAQ:MTCH) had its price target increased by UBS Group from $52.00 to $66.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm presently has a “buy” rating on the technology company’s stock. UBS Group’s price target would suggest a potential upside of 12.57% from the stock’s current price.

Other research analysts have also recently issued reports about the company. ValuEngine upgraded Match Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. BidaskClub cut Match Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Deutsche Bank increased their price target on Match Group from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, August 17th. BMO Capital Markets increased their price target on Match Group from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. Finally, Wells Fargo & Co increased their price target on Match Group from $41.00 to $47.00 and gave the company a “market perform” rating in a research note on Thursday, August 9th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Match Group currently has a consensus rating of “Buy” and an average price target of $45.88.

Shares of MTCH stock traded up $0.37 during trading hours on Wednesday, reaching $58.63. The company’s stock had a trading volume of 35,601 shares, compared to its average volume of 2,054,803. The company has a market cap of $16.01 billion, a PE ratio of 111.98, a P/E/G ratio of 3.78 and a beta of 0.40. Match Group has a fifty-two week low of $23.16 and a fifty-two week high of $60.95. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.54 and a current ratio of 1.54.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, August 7th. The technology company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.10. The firm had revenue of $421.20 million for the quarter, compared to the consensus estimate of $413.07 million. Match Group had a return on equity of 53.18% and a net margin of 32.94%. equities analysts predict that Match Group will post 1.23 EPS for the current fiscal year.

In related news, General Counsel Jared F. Sine sold 27,343 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $48.51, for a total transaction of $1,326,408.93. Following the completion of the transaction, the general counsel now directly owns 65,022 shares of the company’s stock, valued at approximately $3,154,217.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Amanda Ginsberg sold 106,850 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $49.37, for a total value of $5,275,184.50. Following the transaction, the chief executive officer now directly owns 62,682 shares of the company’s stock, valued at $3,094,610.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,000 shares of company stock valued at $12,382,872. 7.00% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. CIBC Asset Management Inc raised its position in Match Group by 12.3% during the 2nd quarter. CIBC Asset Management Inc now owns 9,612 shares of the technology company’s stock worth $372,000 after purchasing an additional 1,056 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Match Group by 48.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 4,067 shares of the technology company’s stock worth $158,000 after acquiring an additional 1,336 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Match Group by 0.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 182,856 shares of the technology company’s stock worth $8,126,000 after acquiring an additional 1,535 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Match Group by 23.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,353 shares of the technology company’s stock worth $549,000 after acquiring an additional 2,368 shares in the last quarter. Finally, TLP Group LLC raised its position in shares of Match Group by 12,204.8% in the 1st quarter. TLP Group LLC now owns 2,584 shares of the technology company’s stock worth $115,000 after acquiring an additional 2,563 shares in the last quarter. 22.57% of the stock is owned by institutional investors and hedge funds.

About Match Group

Match Group, Inc provides dating products. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, and Pairs. Match Group, Inc offers its dating products through its Websites and applications in 42 languages approximately in 190 countries. The company was incorporated in 2009 and is headquartered in Dallas, Texas.

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