Bank of America Issues Pessimistic Forecast for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH - Free Report) had its target price trimmed by Bank of America from $36.00 to $33.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the technology company's stock.

MTCH has been the topic of a number of other research reports. Hsbc Global Res cut shares of Match Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 6th. 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 report on Thursday, February 6th. Morgan Stanley decreased their price target on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. BTIG Research cut Match Group from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company decreased their target price on Match Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Fifteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $36.58.

Match Group Price Performance

MTCH stock traded up $0.10 during midday trading on Monday, hitting $30.29. The stock had a trading volume of 332,209 shares, compared to its average volume of 4,924,899. The business has a 50-day moving average of $30.70 and a two-hundred day moving average of $32.73. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. Match Group has a 52-week low of $26.39 and a 52-week high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last released its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS 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%. Research analysts predict that Match Group will post 2.44 earnings per share for the current year.

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.51%. The ex-dividend date was Thursday, April 3rd. Match Group's dividend payout ratio is currently 37.62%.

Insiders Place Their Bets

In related news, President Gary Swidler sold 242,209 shares of Match Group 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 transaction, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.77% of the company's stock.

Institutional Investors Weigh In On Match Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. NBC Securities Inc. purchased a new stake in shares of Match Group during the first quarter worth about $37,000. Canada Post Corp Registered Pension Plan purchased a new stake in Match Group during the 4th quarter valued at approximately $43,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Match Group by 30,240.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock valued at $50,000 after buying an additional 1,512 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock worth $99,000 after buying an additional 378 shares in the last quarter. Finally, CX Institutional bought a new position in shares of Match Group during the first quarter worth $103,000. 94.05% of the stock is owned by institutional investors.

About Match Group

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.