Philip D. Eigenmann Sells 7,057 Shares of Match Group Inc (NASDAQ:MTCH) Stock

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Match Group Inc (NASDAQ:MTCH) CAO Philip D. Eigenmann sold 7,057 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $84.49, for a total transaction of $596,245.93. Following the transaction, the chief accounting officer now owns 13,133 shares in the company, valued at $1,109,607.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NASDAQ MTCH opened at $86.48 on Friday. Match Group Inc has a 12-month low of $33.30 and a 12-month high of $95.32. The company has a market capitalization of $24.31 billion, a PE ratio of 65.02, a price-to-earnings-growth ratio of 2.82 and a beta of 0.27. The company has a debt-to-equity ratio of 7.63, a current ratio of 1.32 and a quick ratio of 1.32. The firm’s 50-day moving average is $77.72 and its two-hundred day moving average is $65.88.

Match Group (NASDAQ:MTCH) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. Match Group had a net margin of 26.51% and a return on equity of 166.69%. The company had revenue of $498.00 million for the quarter, compared to the consensus estimate of $489.16 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts forecast that Match Group Inc will post 1.77 EPS for the current fiscal year.

MTCH has been the topic of several recent analyst reports. SunTrust Banks upped their target price on shares of Match Group from $62.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Jefferies Financial Group upped their target price on shares of Match Group from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. They noted that the move was a valuation call. UBS Group lowered shares of Match Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $77.00 to $95.00 in a research report on Thursday, August 8th. Nomura upped their target price on shares of Match Group from $62.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research upgraded shares of Match Group from a “hold” rating to a “strong-buy” rating and set a $78.00 target price on the stock in a research report on Wednesday, May 15th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $86.91.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Oak Wealth Management Inc. purchased a new stake in shares of Match Group in the second quarter valued at about $42,000. NEXT Financial Group Inc lifted its holdings in shares of Match Group by 850.0% in the second quarter. NEXT Financial Group Inc now owns 950 shares of the technology company’s stock valued at $64,000 after purchasing an additional 850 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Match Group in the second quarter valued at about $67,000. Cornerstone Advisors Inc. lifted its holdings in shares of Match Group by 32.5% in the first quarter. Cornerstone Advisors Inc. now owns 1,774 shares of the technology company’s stock valued at $100,000 after purchasing an additional 435 shares in the last quarter. Finally, Stephens Inc. AR lifted its stake in shares of Match Group by 3,829.8% during the first quarter. Stephens Inc. AR now owns 1,847 shares of the technology company’s stock valued at $105,000 after buying an additional 1,800 shares during the period. 22.23% of the stock is currently owned by institutional investors.

About Match Group

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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