Match Group (NASDAQ:MTCH) Sets New 52-Week Low - Here's What Happened

Match Group, Inc. (NASDAQ:MTCH - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The company traded as low as $26.57 and last traded at $27.67, with a volume of 40338 shares changing hands. The stock had previously closed at $28.74.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. HSBC downgraded Match Group from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Barclays decreased their price target on shares of Match Group from $53.00 to $52.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group reaffirmed a "hold" rating and set a $32.00 price objective (down previously from $40.00) on shares of Match Group in a research note on Tuesday, December 17th. BTIG Research lowered shares of Match Group from a "buy" rating to a "neutral" rating in a research note on Tuesday, January 14th. Finally, Evercore ISI lowered Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target for the company. in a research report on Thursday, February 6th. Fifteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $37.63.

Match Group Stock Performance

The company has a 50 day moving average of $31.58 and a 200 day moving average of $33.22. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH - Get Free Report) last released 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, research analysts expect that Match Group, Inc. will post 2.44 EPS for the current fiscal year.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Thursday, April 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, April 3rd. Match Group's dividend payout ratio (DPR) is 37.62%.

Insider Activity

In related 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 of the company's stock, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.77% of the company's stock.

Institutional Trading of Match Group

Large investors have recently made changes to their positions in the company. NBC Securities Inc. purchased a new stake in Match Group in the 1st quarter valued at $37,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Match Group during the fourth quarter worth about $43,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings 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 worth $50,000 after buying an additional 1,512 shares during the last quarter. Assetmark Inc. increased its position in Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after acquiring an additional 378 shares during the period. Finally, Principal Securities Inc. raised its stake in Match Group by 420.3% during the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company's stock valued at $107,000 after acquiring an additional 2,652 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

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.