Match Group (NASDAQ:MTCH) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Match Group (NASDAQ:MTCH) from a buy rating to a hold rating in a research note published on Thursday.

MTCH has been the topic of a number of other reports. Wolfe Research initiated coverage on shares of Match Group in a report on Tuesday, July 16th. They set an outperform rating and a $36.00 target price on the stock. Royal Bank of Canada reduced their target price on shares of Match Group from $43.00 to $33.00 and set an outperform rating on the stock in a report on Thursday, May 9th. TD Cowen reduced their target price on shares of Match Group from $46.00 to $44.00 and set a buy rating on the stock in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Match Group from $42.00 to $38.00 and set a buy rating on the stock in a report on Thursday, May 9th. Finally, Wells Fargo & Company reduced their target price on shares of Match Group from $31.00 to $30.00 and set an equal weight rating on the stock in a report on Thursday, May 9th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $41.79.

Match Group Price Performance

MTCH stock opened at $33.25 on Thursday. The company has a 50 day simple moving average of $31.19 and a 200 day simple moving average of $33.55. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.55 and a beta of 1.49. Match Group has a 1 year low of $27.66 and a 1 year high of $49.24.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The business had revenue of $860.00 million during the quarter, compared to analysts’ expectations of $855.77 million. During the same period in the prior year, the company earned $0.42 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Match Group will post 2.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Match Group

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Match Group by 1.3% in the first quarter. Vanguard Group Inc. now owns 32,358,501 shares of the technology company’s stock worth $1,173,966,000 after purchasing an additional 416,140 shares during the period. Edmond DE Rothschild Holding S.A. grew its holdings in Match Group by 30.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,080,312 shares of the technology company’s stock worth $148,034,000 after purchasing an additional 943,894 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Match Group in the second quarter valued at $100,848,000. Norges Bank bought a new position in shares of Match Group in the fourth quarter valued at $112,903,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Match Group by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock valued at $77,342,000 after buying an additional 12,379 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Match Group Company Profile

Match Group, Inc engages in the provision of dating products. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and Hakuna, as well as a various other brands, each built to increase users' likelihood of connecting with others. Its services are available in over 40 languages to users worldwide.