Match Group (NASDAQ:MTCH) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Match Group (NASDAQ:MTCH) from a buy rating to a hold rating in a report published on Friday.

Several other equities research analysts have also commented on the company. Citigroup upped their price objective on Match Group from $33.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays lowered their price objective on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. TD Cowen upped their price objective on Match Group from $44.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped their price objective on Match Group from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus increased their target price on Match Group from $34.00 to $39.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.73.

Match Group Price Performance

NASDAQ:MTCH traded down $0.55 during midday trading on Friday, hitting $30.71. The company’s stock had a trading volume of 3,737,644 shares, compared to its average volume of 5,280,531. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $42.42. The firm’s 50 day moving average is $36.15 and its 200-day moving average is $33.94. The firm has a market cap of $7.92 billion, a P/E ratio of 13.71, a P/E/G ratio of 0.85 and a beta of 1.51.

Institutional Trading of Match Group

A number of institutional investors have recently bought and sold shares of the company. Starboard Value LP acquired a new position in Match Group in the third quarter valued at $361,605,000. Assenagon Asset Management S.A. purchased a new stake in Match Group during the 2nd quarter worth $100,848,000. Pacer Advisors Inc. increased its stake in Match Group by 88.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after buying an additional 2,940,667 shares during the period. Marshall Wace LLP purchased a new stake in Match Group during the 2nd quarter worth $49,053,000. Finally, Capitolis Liquid Global Markets LLC grew its holdings in Match Group by 668.9% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,304,000 shares of the technology company’s stock worth $47,309,000 after acquiring an additional 1,134,400 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other 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.