Match Group (NASDAQ:MTCH) Hits New 1-Year Low at $27.66

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

Analysts Set New Price Targets

A number of research analysts recently commented on MTCH shares. KeyCorp lowered their price objective on shares of Match Group from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. lowered their price target on Match Group from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Raymond James assumed coverage on Match Group in a report on Thursday, April 4th. They set a “market perform” rating on the stock. Piper Sandler reiterated an “overweight” rating and set a $45.00 price objective on shares of Match Group in a research note on Wednesday, March 27th. Finally, UBS Group lifted their price objective on Match Group from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.82.

Match Group Stock Down 4.9 %

The firm has a 50 day moving average price of $33.77 and a two-hundred day moving average price of $34.34. The company has a market cap of $8.03 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.51 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last issued its quarterly 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 313.95% and a net margin of 19.36%. The business had revenue of $860.00 million for the quarter, compared to analyst estimates of $855.77 million. During the same period last year, the company posted $0.42 earnings per share. Match Group’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Match Group, Inc. will post 2.16 earnings per share for the current year.

Institutional Trading of Match Group

A number of large investors have recently modified their holdings of MTCH. YHB Investment Advisors Inc. purchased a new position in Match Group during the first quarter valued at $28,000. Principal Securities Inc. purchased a new stake in shares of Match Group during the fourth quarter worth about $31,000. Mather Group LLC. purchased a new stake in Match Group in the 1st quarter worth $33,000. Fidelis Capital Partners LLC bought a new position in shares of Match Group during the 1st quarter valued at approximately $33,000. Finally, VisionPoint Advisory Group LLC bought a new stake in Match Group in the third quarter worth $40,000. Institutional investors 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.