Match Group (NASDAQ:MTCH) Downgraded by Hsbc Global Res to "Hold"

Match Group (NASDAQ:MTCH - Get Free Report) was downgraded by equities researchers at Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Jefferies Financial Group reiterated a "hold" rating and issued a $32.00 price target (down previously from $40.00) on shares of Match Group in a report on Tuesday, December 17th. HSBC cut shares of Match Group from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. StockNews.com cut shares of Match Group from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Loop Capital cut their price target on shares of Match Group from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Thursday, December 12th. Finally, Bank of America lifted their price target on shares of Match Group from $35.00 to $36.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Sixteen equities research 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, the company currently has an average rating of "Hold" and an average target price of $37.68.

Match Group Price Performance

Shares of MTCH stock traded up $0.07 on Thursday, hitting $34.00. The stock had a trading volume of 4,203,051 shares, compared to its average volume of 4,454,810. The business has a 50 day moving average of $33.04 and a 200 day moving average of $34.68. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45. Match Group has a 12-month low of $27.66 and a 12-month high of $38.84.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate 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 will post 2.49 earnings per share for the current fiscal year.

Match Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 19% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Match Group

In related news, Director Stephen Bailey sold 801 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total transaction of $25,319.61. Following the sale, the director now owns 12,398 shares of the company's stock, valued at $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Match Group

Institutional investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC lifted its holdings in shares of Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company's stock worth $27,000 after purchasing an additional 605 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in shares of Match Group during the third quarter worth about $31,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group during the third quarter worth about $57,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company's stock worth $70,000 after purchasing an additional 1,500 shares during the period. Finally, Solstein Capital LLC purchased a new position in Match Group during the third quarter valued at approximately $87,000. Institutional investors and hedge funds own 94.05% of the company's stock.

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.