Match Group (NASDAQ:MTCH) Rating Lowered to Hold at StockNews.com

Match Group (NASDAQ:MTCH) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other analysts also recently issued reports on the stock. Susquehanna dropped their price objective on shares of Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a report on Friday, November 8th. KeyCorp reduced their target price on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Bank of America reaffirmed a “neutral” rating and set a $35.00 price objective (down from $50.00) on shares of Match Group in a research note on Thursday, November 7th. Hsbc Global Res raised Match Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company cut their target price on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.73.

Match Group Price Performance

MTCH opened at $30.71 on Friday. Match Group has a one year low of $27.66 and a one year high of $42.42. The firm has a market capitalization of $7.92 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 0.85 and a beta of 1.51. The company has a fifty day moving average price of $36.15 and a 200-day moving average price of $33.94.

Institutional Investors Weigh In On Match Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Life Insurance Co. boosted its position in Match Group by 2.9% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock valued at $403,000 after buying an additional 297 shares during the period. Fulton Bank N.A. grew its holdings in shares of Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock valued at $379,000 after buying an additional 299 shares during the last quarter. Prestige Wealth Management Group LLC raised its stake in Match Group by 8.9% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after acquiring an additional 357 shares during the last quarter. Empirical Finance LLC lifted its position in Match Group by 1.5% during the 3rd quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock worth $982,000 after acquiring an additional 384 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Match Group by 1.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after purchasing an additional 455 shares during the last quarter. Hedge funds and other 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.