Match Group (NASDAQ:MTCH) Stock Rating Lowered by Wall Street Zen

Match Group (NASDAQ:MTCH) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other brokerages have also recently commented on MTCH. Evercore ISI dropped their target price on shares of Match Group from $38.00 to $35.00 and set an “in-line” rating for the company in a research report on Wednesday, November 5th. Morgan Stanley decreased their price objective on Match Group from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Match Group in a research note on Wednesday, October 8th. Truist Financial reduced their target price on Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th. Finally, Wells Fargo & Company decreased their target price on Match Group from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, Match Group has a consensus rating of “Hold” and an average price target of $35.00.

Match Group Price Performance

Shares of MTCH opened at $34.52 on Friday. The business’s 50 day simple moving average is $32.98 and its 200-day simple moving average is $33.66. The company has a market capitalization of $8.15 billion, a P/E ratio of 16.13, a PEG ratio of 0.74 and a beta of 1.34. Match Group has a one year low of $26.39 and a one year high of $39.20.

Insider Buying and Selling at Match Group

In related news, CEO Spencer M. Rascoff acquired 14,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average cost of $31.84 per share, for a total transaction of $445,760.00. Following the completion of the acquisition, the chief executive officer directly owned 165,128 shares in the company, valued at approximately $5,257,675.52. The trade was a 9.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is owned by company insiders.

Institutional Trading of Match Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Match Group during the third quarter worth about $25,000. Root Financial Partners LLC acquired a new position in Match Group during the 3rd quarter worth approximately $27,000. Employees Retirement System of Texas bought a new position in shares of Match Group during the 2nd quarter worth approximately $28,000. Advisory Services Network LLC acquired a new stake in shares of Match Group in the third quarter valued at approximately $28,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Match Group by 56.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,008 shares of the technology company’s stock valued at $31,000 after purchasing an additional 362 shares during the last quarter. Institutional investors and hedge funds 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.