Match Group (MTCH) Shares Gap Down to $42.72

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Shares of Match Group Inc (NASDAQ:MTCH) gapped down prior to trading on Thursday . The stock had previously closed at $41.51, but opened at $42.72. Match Group shares last traded at $44.11, with a volume of 113703 shares trading hands.

MTCH has been the subject of several analyst reports. BidaskClub upgraded Match Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 29th. Wells Fargo & Co restated a “hold” rating on shares of Match Group in a report on Thursday. Jefferies Financial Group upped their target price on Match Group from $55.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 4th. ValuEngine cut Match Group from a “buy” rating to a “hold” rating in a report on Friday, October 19th. Finally, Deutsche Bank upped their target price on Match Group from $56.00 to $61.00 and gave the company a “buy” rating in a report on Monday, November 5th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Match Group presently has an average rating of “Buy” and a consensus price target of $49.82.

The company has a market cap of $11.83 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 2.76 and a beta of 0.74. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.54 and a quick ratio of 1.54.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. Match Group had a return on equity of 64.07% and a net margin of 21.24%. The business had revenue of $444.00 million for the quarter, compared to analyst estimates of $438.03 million. During the same quarter in the prior year, the company posted $0.19 EPS. The company’s quarterly revenue was up 29.4% on a year-over-year basis. Research analysts predict that Match Group Inc will post 1.26 earnings per share for the current year.

The firm also recently declared a special dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Wednesday, December 5th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, December 4th.

In related news, General Counsel Jared F. Sine sold 27,343 shares of the stock in a transaction dated 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 transaction, the general counsel now owns 65,022 shares of the company’s stock, valued at approximately $3,154,217.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Amanda Ginsberg sold 106,850 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,094,610.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,000 shares of company stock worth $12,382,872. Corporate insiders own 7.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC acquired a new position in Match Group during the 2nd quarter worth about $111,000. Thompson Siegel & Walmsley LLC acquired a new position in Match Group during the 3rd quarter worth about $116,000. Commonwealth Bank of Australia lifted its stake in Match Group by 155.6% during the 3rd quarter. Commonwealth Bank of Australia now owns 2,300 shares of the technology company’s stock worth $133,000 after acquiring an additional 1,400 shares in the last quarter. Financial Architects Inc lifted its stake in Match Group by 410.3% during the 2nd quarter. Financial Architects Inc now owns 3,649 shares of the technology company’s stock worth $141,000 after acquiring an additional 2,934 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in Match Group during the 2nd quarter worth about $150,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

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Match Group Company Profile (NASDAQ:MTCH)

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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