Match Group (NASDAQ:MTCH) Shares Gap Down to $32.28

Match Group, Inc. (NASDAQ:MTCH) gapped down prior to trading on Thursday . The stock had previously closed at $32.28, but opened at $31.50. Match Group shares last traded at $32.14, with a volume of 454,421 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. KeyCorp increased their target price on shares of Match Group from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Raymond James assumed coverage on Match Group in a report on Thursday, April 4th. They issued a “market perform” rating on the stock. UBS Group increased their price target on Match Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Finally, Citigroup boosted their price objective on shares of Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, February 1st. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.95.

Match Group Price Performance

The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.51 and a beta of 1.41. The firm’s 50-day simple moving average is $35.12 and its two-hundred day simple moving average is $34.87.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.32. The business had revenue of $866.00 million for the quarter, compared to analysts’ expectations of $861.31 million. Match Group had a negative return on equity of 313.95% and a net margin of 19.36%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, analysts expect that Match Group, Inc. will post 2.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MTCH. Money Concepts Capital Corp grew its stake in Match Group by 27.0% in the 4th quarter. Money Concepts Capital Corp now owns 1,209 shares of the technology company’s stock valued at $50,000 after acquiring an additional 257 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in shares of Match Group by 4.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 6,936 shares of the technology company’s stock valued at $754,000 after purchasing an additional 280 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Match Group by 2.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 10,192 shares of the technology company’s stock worth $487,000 after purchasing an additional 283 shares in the last quarter. Laurel Wealth Advisors Inc. raised its position in shares of Match Group by 6.9% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 4,480 shares of the technology company’s stock worth $488,000 after purchasing an additional 290 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Match Group by 10.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,460 shares of the technology company’s stock valued at $144,000 after buying an additional 317 shares in the last quarter. Hedge funds and other 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.