Match Group (NASDAQ:MTCH) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Match Group (NASDAQ:MTCH) from a buy rating to a hold rating in a research report report published on Saturday.

A number of other equities analysts have also commented on the company. Citigroup increased their price target on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Barclays lifted their price objective on Match Group from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $43.00 price objective on shares of Match Group in a report on Wednesday, May 6th. Morgan Stanley set a $40.00 target price on Match Group in a research report on Wednesday. Finally, Royal Bank Of Canada raised their target price on shares of Match Group from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.54.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $37.26 on Friday. The company has a market cap of $8.69 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.58 and a beta of 1.30. Match Group has a 52-week low of $28.81 and a 52-week high of $41.40. The firm’s fifty day moving average is $37.34 and its two-hundred day moving average is $34.40.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The business had revenue of $853.11 million during the quarter, compared to the consensus estimate of $857.77 million. Match Group had a net margin of 20.17% and a negative return on equity of 324.82%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, analysts forecast that Match Group will post 3.11 EPS for the current fiscal year.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, October 5th. Match Group’s payout ratio is presently 28.27%.

Institutional Investors Weigh In On Match Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTCH. Advisory Services Network LLC bought a new position in shares of Match Group during the 3rd quarter valued at approximately $28,000. Activest Wealth Management lifted its position in Match Group by 6,523.1% in the fourth quarter. Activest Wealth Management now owns 861 shares of the technology company’s stock worth $28,000 after buying an additional 848 shares during the last quarter. Whittier Trust Co. lifted its position in Match Group by 91.3% in the first quarter. Whittier Trust Co. now owns 903 shares of the technology company’s stock worth $29,000 after buying an additional 431 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in Match Group by 1,319.4% during the second quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company’s stock worth $36,000 after buying an additional 884 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in Match Group by 53.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,028 shares of the technology company’s stock worth $33,000 after buying an additional 356 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Company Profile

Match Group, Inc (NASDAQ: MTCH) is a leading provider of online dating products and services. The company owns and operates a diverse portfolio of consumer brands that connect singles through digital platforms. Its flagship offerings include Match.com, Tinder, Hinge, OkCupid and PlentyOfFish, which together serve users looking for long-term relationships, casual encounters and social networking opportunities.

Originating with the launch of Match.com in 1995, Match Group has grown through a combination of organic development and strategic acquisitions.