Match Group (NASDAQ:MTCH) Stock Rating Lowered by Zacks Research

Match Group (NASDAQ:MTCH) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Several other research analysts have also weighed in on MTCH. Truist Financial increased their target price on shares of Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of Match Group from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Susquehanna reaffirmed a “positive” rating on shares of Match Group in a research report on Wednesday, August 5th. JPMorgan Chase & Co. assumed coverage on shares of Match Group in a report on Monday, August 24th. They issued a “neutral” rating and a $43.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on Match Group from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Match Group has a consensus rating of “Hold” and a consensus target price of $42.46.

Match Group Stock Up 0.7%

Shares of MTCH opened at $40.62 on Monday. Match Group has a 52-week low of $28.81 and a 52-week high of $44.94. The firm’s fifty day moving average is $40.54 and its two-hundred day moving average is $37.32. The stock has a market cap of $9.32 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43.

Match Group (NASDAQ:MTCH) last posted its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The firm had revenue of $853.11 million during the quarter, compared to analysts’ expectations of $857.77 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, research analysts anticipate that Match Group will post 3.31 earnings per share for the current year.

Insider Activity at Match Group

In other Match Group news, CAO Philip D. Eigenmann sold 15,000 shares of Match Group stock in a transaction on Friday, August 28th. The shares were sold at an average price of $41.70, for a total value of $625,500.00. Following the transaction, the chief accounting officer directly owned 19,389 shares in the company, valued at approximately $808,521.30. The trade was a 43.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen Bailey sold 4,760 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $42.26, for a total value of $201,157.60. Following the completion of the transaction, the director owned 11,742 shares in the company, valued at $496,216.92. This trade represents a 28.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 23,291 shares of company stock worth $976,478. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On Match Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Match Group during the second quarter worth $1,087,055,000. Arrowstreet Capital Limited Partnership boosted its position in Match Group by 2.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,494,679 shares of the technology company’s stock worth $242,003,000 after purchasing an additional 196,191 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Match Group in the second quarter valued at $154,811,000. First Manhattan CO. LLC. grew its holdings in Match Group by 2.0% in the fourth quarter. First Manhattan CO. LLC. now owns 3,557,506 shares of the technology company’s stock valued at $114,872,000 after purchasing an additional 68,649 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Match Group by 196.6% in the first quarter. Renaissance Technologies LLC now owns 3,194,368 shares of the technology company’s stock valued at $98,099,000 after buying an additional 2,117,414 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

About Match Group

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help users form romantic, social and relationship-oriented connections across a range of demographics, interests and relationship goals.

Its brands include Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, OurTime, BLK, Chispa and The League. These services are available through mobile applications and websites and generally offer features such as user profiles, matching, messaging, discovery tools and subscription or other paid enhancements.

Match Group traces its origins to Match.com and was established as a standalone public company after being spun off from IAC in 2020.