Match Group (NASDAQ:MTCH) Stock Price Down 2.5%

Match Group, Inc. (NASDAQ:MTCH)’s stock price fell 2.5% during trading on Friday . The company traded as low as $34.72 and last traded at $34.76. 149,949 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 5,669,603 shares. The stock had previously closed at $35.64.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MTCH. Susquehanna decreased their target price on Match Group from $46.00 to $45.00 and set a “positive” rating on the stock in a research report on Monday, May 13th. StockNews.com cut Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $38.00 price objective on shares of Match Group in a research note on Wednesday, July 31st. TD Cowen boosted their price objective on Match Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, KeyCorp reduced their price objective on Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.07.

Match Group Stock Performance

The stock has a 50 day simple moving average of $32.62 and a two-hundred day simple moving average of $33.33. The firm has a market cap of $9.22 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.72 and a beta of 1.48.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. The business had revenue of $864.07 million during the quarter, compared to analyst estimates of $856.51 million. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. Equities research analysts forecast that Match Group, Inc. will post 1.98 earnings per share for the current year.

Hedge Funds Weigh In On Match Group

Institutional investors and hedge funds have recently modified their holdings of the business. Empirical Finance LLC boosted its holdings in shares of Match Group by 4.9% during the 1st quarter. Empirical Finance LLC now owns 7,005 shares of the technology company’s stock worth $254,000 after purchasing an additional 326 shares during the last quarter. Prestige Wealth Management Group LLC lifted its holdings in Match Group by 8.9% in the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock valued at $133,000 after acquiring an additional 357 shares during the last quarter. Greenwich Wealth Management LLC lifted its holdings in Match Group by 1.9% in the fourth quarter. Greenwich Wealth Management LLC now owns 19,170 shares of the technology company’s stock valued at $700,000 after acquiring an additional 361 shares during the last quarter. Quarry LP lifted its holdings in Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after acquiring an additional 461 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in Match Group by 6.5% in the first quarter. Gamco Investors INC. ET AL now owns 7,807 shares of the technology company’s stock valued at $283,000 after acquiring an additional 478 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

About Match Group

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.