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

StockNews.com lowered shares of Match Group (NASDAQ:MTCH) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other research firms have also recently weighed in on MTCH. Wells Fargo & Company lowered their price objective on Match Group from $31.00 to $30.00 and set an equal weight rating for the company in a research report on Thursday, May 9th. TD Cowen cut their target price on Match Group from $46.00 to $44.00 and set a buy rating on the stock in a research report on Thursday, May 9th. The Goldman Sachs Group decreased their price objective on shares of Match Group from $47.00 to $37.00 and set a buy rating for the company in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Match Group from $42.00 to $38.00 and set a buy rating for the company in a report on Thursday, May 9th. Finally, Morgan Stanley lowered shares of Match Group from an overweight rating to an equal weight rating and decreased their target price for the stock from $53.00 to $37.00 in a research report on Thursday, April 18th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $42.43.

Match Group Trading Down 0.3 %

NASDAQ:MTCH opened at $29.40 on Wednesday. The company has a market capitalization of $7.81 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.49 and a beta of 1.43. Match Group has a 12 month low of $27.66 and a 12 month high of $49.24. The business’s 50-day moving average is $32.76 and its 200 day moving average is $34.11.

Match Group (NASDAQ:MTCH) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. The company had revenue of $860.00 million for the quarter, compared to the consensus estimate of $855.77 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts forecast that Match Group will post 2.11 earnings per share for the current year.

Hedge Funds Weigh In On Match Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Match Group by 6.5% in the third quarter. Commonwealth Equity Services LLC now owns 8,678 shares of the technology company’s stock worth $340,000 after acquiring an additional 530 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Match Group by 149.4% in the third quarter. Teacher Retirement System of Texas now owns 52,677 shares of the technology company’s stock worth $2,064,000 after acquiring an additional 31,556 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Match Group by 2.4% in the third quarter. M&T Bank Corp now owns 22,653 shares of the technology company’s stock worth $888,000 after acquiring an additional 537 shares during the last quarter. Duality Advisers LP bought a new position in shares of Match Group in the third quarter worth about $215,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Match Group by 0.8% in the third quarter. California Public Employees Retirement System now owns 515,291 shares of the technology company’s stock worth $20,187,000 after acquiring an additional 3,956 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.