Match Group (NASDAQ:MTCH) Hits New 12-Month Low Following Analyst Downgrade

Match Group, Inc. (NASDAQ:MTCH) hit a new 52-week low during mid-day trading on Wednesday after UBS Group lowered their price target on the stock from $34.00 to $31.00. UBS Group currently has a neutral rating on the stock. Match Group traded as low as $28.89 and last traded at $29.66, with a volume of 3305749 shares trading hands. The stock had previously closed at $29.73.

Several other research analysts have also issued reports on the company. Evercore ISI lowered Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price for the company. in a research report on Thursday, February 6th. Barclays reduced their price target on Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. BTIG Research lowered Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Hsbc Global Res downgraded shares of Match Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, April 25th. Fifteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.44.

Insiders Place Their Bets

In other Match Group news, President Gary Swidler sold 242,209 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Match Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. NBC Securities Inc. bought a new position in Match Group in the first quarter valued at about $37,000. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Match Group during the 4th quarter valued at 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 worth $50,000 after purchasing an additional 1,512 shares during the period. Mather Group LLC. boosted its holdings in shares of Match Group by 130.1% in the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company’s stock worth $79,000 after buying an additional 1,434 shares during the last quarter. Finally, Assetmark Inc. grew its position in Match Group by 14.2% during the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after buying an additional 378 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Stock Up 2.5 %

The firm has a market capitalization of $7.62 billion, a PE ratio of 15.05, a PEG ratio of 0.82 and a beta of 1.49. The stock’s fifty day simple moving average is $30.32 and its 200 day simple moving average is $32.48.

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

Match Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Thursday, April 3rd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, April 3rd. Match Group’s dividend payout ratio is 37.62%.

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.