JPMorgan Chase & Co. Cuts Match Group (NASDAQ:MTCH) Price Target to $29.00

Match Group (NASDAQ:MTCH) had its target price cut by JPMorgan Chase & Co. from $33.00 to $29.00 in a report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other research analysts have also commented on the company. Evercore ISI lowered Match Group from an “outperform” rating to an “inline” rating and set a $35.00 price objective on the stock. in a report on Thursday, February 6th. Barclays dropped their price objective on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. StockNews.com raised shares of Match Group from a “hold” rating to a “buy” rating in a report on Thursday, April 17th. Hsbc Global Res cut Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, BTIG Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Fifteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.96.

Match Group Stock Performance

Match Group stock opened at $30.19 on Tuesday. The stock has a 50-day simple moving average of $30.70 and a 200 day simple moving average of $32.73. The stock has a market capitalization of $7.56 billion, a P/E ratio of 14.95, a PEG ratio of 0.82 and a beta of 1.49. Match Group has a 52 week low of $26.39 and a 52 week high of $38.84.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Research analysts forecast that Match Group will post 2.44 earnings per share for the current year.

Match Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Thursday, April 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $0.76 dividend on an annualized basis and a yield of 2.52%. Match Group’s payout ratio is 37.62%.

Insider Buying and Selling

In other news, President Gary Swidler sold 242,209 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares in the company, valued at $55,533.40. This trade represents a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MTCH. NBC Securities Inc. bought a new position in Match Group during the first quarter worth $37,000. Canada Post Corp Registered Pension Plan bought a new position in shares of Match Group in the 4th quarter worth about $43,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Match Group by 30,240.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock valued at $50,000 after purchasing an additional 1,512 shares during the period. Assetmark Inc. boosted its position in shares of Match Group by 14.2% during the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after purchasing an additional 378 shares in the last quarter. Finally, Principal Securities Inc. increased its holdings in Match Group by 420.3% in the fourth quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock worth $107,000 after purchasing an additional 2,652 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Match Group Company Profile

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.