Match Group (NASDAQ:MTCH) Downgraded to Hold Rating by StockNews.com

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

Several other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Match Group from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Wells Fargo & Company dropped their target price on shares of Match Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. UBS Group dropped their target price on shares of Match Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Evercore ISI dropped their target price on shares of Match Group from $35.00 to $32.00 and set an “in-line” rating on the stock in a research report on Monday, May 12th. Finally, Bank of America dropped their target price on shares of Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Sixteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.91.

Match Group Price Performance

Shares of MTCH opened at $29.25 on Friday. The company has a 50-day moving average of $29.77 and a two-hundred day moving average of $31.83. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.82 and a beta of 1.42. Match Group has a one year low of $26.39 and a one year high of $38.84.

Insider Transactions at Match Group

In other 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 value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Spencer M. Rascoff acquired 70,885 shares of Match Group stock in a transaction dated Friday, May 9th. The stock was purchased at an average price of $28.05 per share, with a total value of $1,988,324.25. Following the completion of the purchase, the chief executive officer now directly owns 137,478 shares of the company’s stock, valued at $3,856,257.90. The trade was a 106.45% increase in their position. The disclosure for this purchase can be found here. 0.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Match Group

Several large investors have recently bought and sold shares of the stock. Woodline Partners LP acquired a new position in Match Group during the 1st quarter valued at $662,000. MBB Public Markets I LLC acquired a new position in Match Group during the 1st quarter valued at $312,000. Aristeia Capital L.L.C. acquired a new position in Match Group during the 1st quarter valued at $229,000. Fred Alger Management LLC acquired a new position in Match Group during the 1st quarter valued at $256,000. Finally, Punch & Associates Investment Management Inc. raised its stake in Match Group by 0.3% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 314,094 shares of the technology company’s stock valued at $9,800,000 after purchasing an additional 940 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.