Wall Street brokerages forecast that Match Group Inc (NASDAQ:MTCH) will report sales of $438.30 million for the current quarter, according to Zacks. Five analysts have provided estimates for Match Group’s earnings, with the highest sales estimate coming in at $439.86 million and the lowest estimate coming in at $435.00 million. Match Group posted sales of $343.42 million in the same quarter last year, which suggests a positive year-over-year growth rate of 27.6%. The company is expected to issue its next earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that Match Group will report full-year sales of $1.72 billion for the current fiscal year, with estimates ranging from $1.71 billion to $1.73 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.00 billion, with estimates ranging from $1.91 billion to $2.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Match Group.
Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. The business had revenue of $421.20 million during the quarter, compared to analyst estimates of $413.07 million. Match Group had a return on equity of 53.18% and a net margin of 32.94%.
In related news, CFO Gary Swidler sold 105,611 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $49.57, for a total value of $5,235,137.27. Following the transaction, the chief financial officer now directly owns 266,010 shares in the company, valued at $13,186,115.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Jared F. Sine sold 27,343 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $48.51, for a total value of $1,326,408.93. Following the completion of the transaction, the general counsel now owns 65,022 shares in the company, valued at $3,154,217.22. The disclosure for this sale can be found here. Insiders sold 251,000 shares of company stock worth $12,382,872 over the last quarter. 7.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Whale Rock Capital Management LLC acquired a new position in Match Group during the first quarter worth $85,158,000. BlackRock Inc. lifted its stake in Match Group by 64.9% during the second quarter. BlackRock Inc. now owns 2,951,821 shares of the technology company’s stock worth $114,354,000 after purchasing an additional 1,162,124 shares in the last quarter. Millennium Management LLC lifted its stake in Match Group by 519.2% during the second quarter. Millennium Management LLC now owns 891,541 shares of the technology company’s stock worth $34,538,000 after purchasing an additional 747,553 shares in the last quarter. Morgan Stanley lifted its stake in Match Group by 113.9% during the second quarter. Morgan Stanley now owns 1,392,518 shares of the technology company’s stock worth $53,945,000 after purchasing an additional 741,619 shares in the last quarter. Finally, Global Thematic Partners LLC lifted its stake in Match Group by 129.9% during the second quarter. Global Thematic Partners LLC now owns 954,599 shares of the technology company’s stock worth $36,980,000 after purchasing an additional 539,427 shares in the last quarter. Hedge funds and other institutional investors own 22.58% of the company’s stock.
Shares of MTCH stock traded up $2.74 during trading hours on Monday, reaching $54.14. The company had a trading volume of 2,688,020 shares, compared to its average volume of 2,442,616. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market capitalization of $16.03 billion, a PE ratio of 104.12, a price-to-earnings-growth ratio of 3.78 and a beta of 0.35. Match Group has a 12-month low of $24.40 and a 12-month high of $60.95.
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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