Match Group Inc (MTCH) Expected to Announce Quarterly Sales of $386.66 Million

Wall Street brokerages expect Match Group Inc (NASDAQ:MTCH) to post sales of $386.66 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Match Group’s earnings. The lowest sales estimate is $385.04 million and the highest is $388.20 million. Match Group posted sales of $298.76 million during the same quarter last year, which indicates a positive year-over-year growth rate of 29.4%. The firm is expected to issue its next earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that Match Group will report full year sales of $386.66 million for the current financial year, with estimates ranging from $1.56 billion to $1.61 billion. For the next year, analysts expect that the business will report sales of $1.84 billion per share, with estimates ranging from $1.83 billion to $1.86 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Match Group.

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Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, February 6th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). The company had revenue of $379.00 million for the quarter, compared to analysts’ expectations of $362.86 million. Match Group had a net margin of 26.31% and a return on equity of 31.33%. Match Group’s quarterly revenue was up 28.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share.

MTCH has been the subject of a number of research reports. Wells Fargo reiterated an “outperform” rating and set a $38.00 target price (up from $33.00) on shares of Match Group in a research note on Monday, January 8th. Guggenheim upgraded shares of Match Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 19th. Vetr upgraded shares of Match Group from a “hold” rating to a “buy” rating and set a $37.10 target price for the company in a research note on Tuesday, January 30th. BidaskClub upgraded shares of Match Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 25th. Finally, Zacks Investment Research lowered shares of Match Group from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Match Group currently has a consensus rating of “Buy” and a consensus target price of $39.32.

Shares of NASDAQ:MTCH opened at $44.44 on Friday. The firm has a market cap of $12,191.22, a price-to-earnings ratio of 85.46, a P/E/G ratio of 3.43 and a beta of 0.45. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 2.50. Match Group has a 1-year low of $15.71 and a 1-year high of $47.10.

In other news, Director Gregory R. Blatt sold 456,673 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $39.71, for a total value of $18,134,484.83. Following the completion of the sale, the director now directly owns 2,504,859 shares in the company, valued at approximately $99,467,950.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Sharmistha Dubey sold 141,149 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $37.99, for a total value of $5,362,250.51. Following the completion of the sale, the president now owns 78,650 shares of the company’s stock, valued at $2,987,913.50. The disclosure for this sale can be found here. Insiders sold a total of 721,437 shares of company stock valued at $28,580,747 over the last 90 days. 18.10% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado boosted its holdings in Match Group by 211.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 3,584 shares of the technology company’s stock worth $112,000 after buying an additional 2,434 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Match Group by 2,627.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,737 shares of the technology company’s stock worth $117,000 after buying an additional 3,600 shares during the period. Delpha Capital Management LLC bought a new position in Match Group in the 4th quarter worth $138,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Match Group by 122.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,462 shares of the technology company’s stock worth $140,000 after buying an additional 2,460 shares during the period. Finally, Parametrica Management Ltd bought a new position in Match Group in the 4th quarter worth $209,000. 21.85% of the stock is owned by institutional investors.

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About Match Group

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.

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