Match Group (NASDAQ:MTCH) Lowered to "Inline" Rating by Evercore ISI

Match Group (NASDAQ:MTCH - Get Free Report) was downgraded by investment analysts at Evercore ISI from an "outperform" rating to an "inline" rating in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $35.00 target price on the technology company's stock. Evercore ISI's price objective indicates a potential upside of 3.55% from the company's previous close.

Several other analysts have also commented on MTCH. Truist Financial decreased their price target on shares of Match Group from $35.00 to $34.00 and set a "hold" rating for the company in a research report on Thursday, December 12th. New Street Research cut shares of Match Group from a "buy" rating to a "neutral" rating in a research report on Monday, December 16th. BTIG Research lowered shares of Match Group from a "buy" rating to a "neutral" rating in a report on Tuesday, January 14th. Morgan Stanley increased their price objective on Match Group from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Monday, January 13th. Finally, Susquehanna dropped their target price on Match Group from $45.00 to $40.00 and set a "positive" rating on the stock in a research note on Friday, November 8th. Sixteen 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.com, Match Group presently has an average rating of "Hold" and an average target price of $37.68.

Match Group Trading Down 2.3 %

Shares of MTCH traded down $0.79 during mid-day trading on Thursday, hitting $33.80. The company's stock had a trading volume of 5,404,087 shares, compared to its average volume of 4,414,033. The company's 50-day moving average is $33.01 and its 200-day moving average is $34.66. Match Group has a 52-week low of $27.66 and a 52-week high of $38.84. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.14 and a beta of 1.45.

Match Group (NASDAQ:MTCH - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. As a group, sell-side analysts predict that Match Group will post 2.49 earnings per share for the current fiscal year.

Match Group announced that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 19% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Match Group news, Director Stephen Bailey sold 801 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the sale, the director now owns 12,398 shares in the company, valued at approximately $391,900.78. This represents a 6.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Match Group

Several institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC grew its position in Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock valued at $27,000 after buying an additional 605 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Match Group during the 3rd quarter worth about $31,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group during the 3rd quarter valued at about $57,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Match Group by 433.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company's stock valued at $70,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Solstein Capital LLC acquired a new position in Match Group in the 3rd quarter worth about $87,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.