|Bid||43.56 x 900|
|Ask||45.45 x 800|
|Day's Range||43.24 - 44.53|
|52 Week Range||16.57 - 48.65|
|PE Ratio (TTM)||30.30|
|Earnings Date||Jul 30, 2018 - Aug 3, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||43.67|
As Facebook Inc. prepares to launch its own dating product, Match Group Inc. isn’t standing still. The online-dating powerhouse, which owns Tinder, Match.com and a host of other brands, added another to its arsenal late Wednesday when it announced that it had taken a majority stake in millennial-favorite Hinge. “Match’s (MTCH) management, despite portraying confidence, has to be a little concerned and is likely playing some defense,” BTIG analyst Brandon Ross told MarketWatch Thursday.
There could be good reason for investors to put their hearts -- and dollars -- into the premier online dating site operator.
Inc. has added Hinge to its stable of dating apps, acquiring a controlling stake in the Tinder-competitor that is popular with millennials. Financial terms of the deal weren’t disclosed. Match, which now owns 51% in Hinge, made its initial investment in dating-app company in September after an app redesign that, among other changes, eliminated the swipe feature.
Match Group Inc. (mtch) expanded its portfolio for millennial daters Wednesday, purchasing a 51% stake in Hinge, a dating app popular with users in their 20s and 30s. "Hinge's passion for the user experience and their innovative approach to dating has created a product that is highly relevant particularly among urban, educated millennial women looking for relationships," Match Group Chief Executive Mandy Ginsberg said in a release.
DALLAS, June 20, 2018 /PRNewswire/ -- Match Group Inc. (MTCH) announced today that it has acquired a 51% ownership stake in Hinge, the New York City-based relationship app. Match Group has the right to acquire all the remaining shares of Hinge within the next 12 months. Match made its initial investment in Hinge in September 2017, following a product redesign that eliminated the 'swipe' feature and enhanced the focus on real relationships.
Zillow (NASDAQ:ZG, NASDAQ:Z) has had a strong start to 2018. ZG stock (the Class A shares, which are slightly cheaper than Class C shares) has gained 58% so far this year and touched an all-time high this week. Indeed, I argued that investors should buy ZG stock in the mid-$40s in February.
Match Group Inc., which has become a behemoth in online dating by swallowing promising independent brands, is doing it again. The company is purchasing a controlling stake in Hinge, a seven-year-old company that has positioned itself as a counterbalance to the casual dating scene on Tinder, Match’s flagship product. Hinge is the fifth-highest grossing dating iPhone app, according to the research firm App Annie.
that said last month that it would move into the online dating market. Match, which already owns Tinder, OKCupid and its eponymous brand among others, first invested in Hinge in September and on Wednesday said it has acquired a 51 per cent ownership stake in the New York-city based app.