Match Group (NASDAQ:MTCH) Shares Gap Down – Here’s Why

Shares of Match Group, Inc. (NASDAQ:MTCH) gapped down prior to trading on Thursday . The stock had previously closed at $37.88, but opened at $32.09. Match Group shares last traded at $31.96, with a volume of 3,179,899 shares trading hands.

Analyst Upgrades and Downgrades

MTCH has been the topic of several analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $35.00 target price (down from $50.00) on shares of Match Group in a research note on Thursday. Barclays cut their price objective on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com upgraded Match Group from a “hold” rating to a “buy” rating in a report on Thursday. TD Cowen raised their target price on shares of Match Group from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group dropped their price target on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Friday. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.90.

Match Group Stock Performance

The company’s 50-day moving average price is $36.70 and its 200 day moving average price is $33.96. The stock has a market capitalization of $7.88 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.79 and a beta of 1.51.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The business had revenue of $895.48 million for the quarter, compared to analysts’ expectations of $900.33 million. Match Group had a negative return on equity of 727.22% and a net margin of 17.86%. Analysts predict that Match Group, Inc. will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Match Group

A number of hedge funds and other institutional investors have recently modified their holdings of MTCH. Janney Montgomery Scott LLC boosted its holdings in shares of Match Group by 2.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 79,782 shares of the technology company’s stock valued at $2,894,000 after purchasing an additional 2,083 shares during the last quarter. GSA Capital Partners LLP increased its stake in Match Group by 151.7% in the 1st quarter. GSA Capital Partners LLP now owns 22,854 shares of the technology company’s stock worth $829,000 after acquiring an additional 13,774 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Match Group by 3.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,113 shares of the technology company’s stock worth $2,036,000 after acquiring an additional 1,869 shares in the last quarter. Empirical Finance LLC boosted its position 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 valued at $254,000 after acquiring an additional 326 shares during the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of Match Group by 44.2% in the first quarter. Forsta AP Fonden now owns 171,900 shares of the technology company’s stock valued at $6,237,000 after purchasing an additional 52,700 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

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.