Match Group (NASDAQ:MTCH) Sets New 52-Week Low at $27.66

Match Group, Inc. (NASDAQ:MTCH) hit a new 52-week low during trading on Wednesday . The stock traded as low as $27.66 and last traded at $29.06, with a volume of 9430821 shares. The stock had previously closed at $31.51.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MTCH. UBS Group increased their target price on shares of Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. KeyCorp decreased their price target on shares of Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup lifted their price target on shares of Match Group from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, February 1st. StockNews.com upgraded shares of Match Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley lowered shares of Match Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $53.00 to $37.00 in a research report on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.82.

Match Group Stock Performance

The business’s 50 day moving average price is $33.77 and its 200-day moving average price is $34.34. The firm has a market capitalization of $8.03 billion, a PE ratio of 12.88, a P/E/G ratio of 0.51 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last announced its quarterly 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. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The firm had revenue of $860.00 million during the quarter, compared to analysts’ expectations of $855.77 million. During the same period in the prior year, the company earned $0.42 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. As a group, analysts anticipate that Match Group, Inc. will post 2.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MTCH. Boston Partners bought a new stake in shares of Match Group in the third quarter valued at approximately $276,406,000. Norges Bank purchased a new stake in shares of Match Group in the fourth quarter worth about $112,903,000. Bank of Nova Scotia grew its holdings in shares of Match Group by 17,295.4% in the fourth 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 last quarter. Wellington Management Group LLP boosted its stake in Match Group by 34.7% in the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company’s stock valued at $324,174,000 after acquiring an additional 2,130,646 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new position in shares of Match Group in the 4th quarter valued at about $47,613,000. Institutional investors and hedge funds 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.