Match Group (NASDAQ:MTCH) Rating Lowered to “Inline” at Evercore ISI

Match Group (NASDAQ:MTCH) was downgraded by analysts at Evercore ISI from an “outperform” rating to an “inline” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $35.00 target price on the technology company’s stock. Evercore ISI’s target price would indicate a potential upside of 4.23% from the stock’s previous close.

A number of other research analysts have also recently issued reports on MTCH. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $33.00 target price (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Morgan Stanley increased their target price on shares of Match Group from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Susquehanna lowered their price target on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research report on Friday, November 8th. Barclays lowered their price target on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price target (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Fourteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.72.

Match Group Stock Down 7.9 %

NASDAQ MTCH opened at $33.58 on Thursday. Match Group has a 52-week low of $27.66 and a 52-week high of $38.84. The stock has a market capitalization of $8.43 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.10 and a beta of 1.45. The firm has a 50-day moving average price of $32.93 and a 200 day moving average price of $34.67.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a net margin of 17.86% and a negative return on equity of 721.15%. On average, equities research analysts expect that Match Group will post 2.37 earnings per share for the current fiscal year.

Match Group declared that its board has authorized a share repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 19% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the transaction, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Match Group

Several institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its position in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock valued at $27,000 after purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Match Group in the third quarter worth about $31,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Match Group in the third quarter worth about $57,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Match Group by 433.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock worth $70,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Solstein Capital LLC purchased a new stake in Match Group in the third quarter worth about $87,000. 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.