Match Group (NASDAQ:MTCH) Shares Gap Down – What’s Next?

Match Group, Inc. (NASDAQ:MTCH) gapped down prior to trading on Wednesday . The stock had previously closed at $33.05, but opened at $31.46. Match Group shares last traded at $32.04, with a volume of 752,547 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MTCH shares. Susquehanna cut their price target on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Truist Financial decreased their target price on shares of Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Barclays cut their price target on shares of Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 price objective on shares of Match Group in a report on Monday. Finally, StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Nine research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.73.

Match Group Trading Down 5.9 %

The company has a market cap of $7.81 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 0.91 and a beta of 1.47. The company has a fifty day moving average price of $34.81 and a two-hundred day moving average price of $34.13.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.44%.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of the firm’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 transaction of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares in the company, valued at $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MTCH. Venturi Wealth Management LLC grew its holdings in shares of Match Group by 617.3% in the 3rd 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 last quarter. Itau Unibanco Holding S.A. bought a new stake in Match Group during the third quarter worth about $31,000. Quarry LP grew its stake in Match Group by 54.5% during the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after buying an additional 461 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Match Group during the third quarter worth approximately $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings 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 worth $70,000 after acquiring an additional 1,500 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.