Match Group (NASDAQ:MTCH) Given New $33.00 Price Target at Bank of America

Match Group (NASDAQ:MTCH) had its price objective decreased by investment analysts at Bank of America from $36.00 to $33.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Bank of America‘s price objective would suggest a potential upside of 14.62% from the stock’s current price.

A number of other analysts have also recently weighed in on MTCH. Evercore ISI cut shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price for the company. in a report on Thursday, February 6th. BTIG Research cut Match Group from a “buy” rating to a “neutral” rating in a report on Tuesday, January 14th. Barclays reduced their target price on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. StockNews.com raised Match Group from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Morgan Stanley reduced their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.44.

Match Group Stock Down 0.8 %

Match Group stock traded down $0.23 during trading hours on Monday, hitting $28.79. 743,360 shares of the company traded hands, compared to its average volume of 5,016,128. The firm’s 50-day simple moving average is $31.08 and its two-hundred day simple moving average is $32.88. The firm has a market cap of $7.21 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.82 and a beta of 1.49. Match Group has a 1-year low of $26.39 and a 1-year high of $38.84.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a net margin of 15.84% and a negative return on equity of 574.22%. On average, equities research analysts predict that Match Group will post 2.44 earnings per share for the current year.

Insider Activity

In other news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, the president now owns 1,690 shares of the company’s stock, valued at approximately $55,533.40. This trade represents a 99.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Match Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MTCH. Metis Global Partners LLC boosted its holdings in Match Group by 3.0% during the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock valued at $358,000 after purchasing an additional 318 shares in the last quarter. Cornerstone Investment Partners LLC boosted its stake in Match Group by 2.2% in the 4th quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock valued at $520,000 after buying an additional 349 shares in the last quarter. Assetmark Inc. boosted its stake in Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after buying an additional 378 shares in the last quarter. Fulton Bank N.A. grew its position in Match Group by 3.9% in the first quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company’s stock valued at $321,000 after acquiring an additional 388 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its stake in Match Group by 1.8% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company’s stock worth $757,000 after acquiring an additional 415 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

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.