Match Group (NASDAQ:MTCH) Downgraded by StockNews.com

StockNews.com cut shares of Match Group (NASDAQ:MTCH) from a buy rating to a hold rating in a report released on Thursday morning.

Other analysts also recently issued reports about the stock. 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 research report on Thursday, May 9th. Wolfe Research assumed coverage on shares of Match Group in a research report on Tuesday, July 16th. They issued an outperform rating and a $36.00 target price on the stock. Susquehanna dropped their price target on shares of Match Group from $46.00 to $45.00 and set a positive rating on the stock in a research note on Monday, May 13th. The Goldman Sachs Group dropped their price target on shares of Match Group from $47.00 to $37.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Finally, Raymond James assumed coverage on shares of Match Group in a research note on Thursday, April 4th. They issued a market perform rating on the stock. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $41.79.

Match Group Price Performance

NASDAQ:MTCH opened at $33.25 on Thursday. The firm’s 50-day moving average price is $31.19 and its 200-day moving average price is $33.55. The company has a market capitalization of $8.83 billion, a PE 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 earnings results on Tuesday, May 7th. The technology company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $860.00 million for the quarter, compared to the consensus estimate of $855.77 million. Match Group had a net margin of 19.03% and a negative return on equity of 433.59%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. Equities analysts anticipate that Match Group will post 2.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Match Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. bought a new position in shares of Match Group in the 2nd quarter worth approximately $100,848,000. Norges Bank bought a new position in shares of Match Group in the 4th quarter worth approximately $112,903,000. Bank of Nova Scotia lifted its stake in shares of Match Group by 17,295.4% in the 4th quarter. Bank of Nova Scotia now owns 2,155,632 shares of the technology company’s stock worth $78,678,000 after purchasing an additional 2,143,240 shares during the period. Kodai Capital Management LP bought a new position in shares of Match Group in the 4th quarter worth approximately $47,613,000. Finally, Schroder Investment Management Group lifted its stake in shares of Match Group by 290.8% in the 4th quarter. Schroder Investment Management Group now owns 1,566,334 shares of the technology company’s stock worth $57,171,000 after purchasing an additional 1,165,576 shares during the period. 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.