Match Group (NASDAQ:MTCH – Get Rating) had its price objective lowered by investment analysts at KeyCorp from $90.00 to $82.00 in a report released on Thursday, The Fly reports. The firm currently has an "overweight" rating on the technology company's stock. KeyCorp's target price points to a potential upside of 20.98% from the stock's current price.
MTCH has been the subject of several other reports. Cowen cut their target price on shares of Match Group from $150.00 to $134.00 in a research note on Thursday, April 28th. Royal Bank of Canada cut their target price on shares of Match Group from $150.00 to $115.00 in a research note on Thursday, May 5th. JPMorgan Chase & Co. cut their target price on shares of Match Group from $125.00 to $105.00 in a research note on Tuesday, July 19th. Barclays cut their target price on shares of Match Group from $81.00 to $65.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 19th. Finally, Truist Financial cut shares of Match Group from a "buy" rating to a "hold" rating and cut their target price for the company from $145.00 to $68.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.86.Get Match Group alerts:
Match Group Trading Up 1.9 %
NASDAQ MTCH opened at $67.78 on Thursday. The company has a fifty day simple moving average of $73.31 and a 200 day simple moving average of $88.77. The company has a market cap of $19.36 billion, a P/E ratio of 211.82, a P/E/G ratio of 0.61 and a beta of 1.15. Match Group has a 1 year low of $59.15 and a 1 year high of $182.00.Match Group (NASDAQ:MTCH – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. The business had revenue of $798.63 million during the quarter, compared to the consensus estimate of $795.03 million. Match Group had a net margin of 3.48% and a negative return on equity of 164.13%. Match Group's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 EPS. Equities research analysts forecast that Match Group will post 2.63 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CEO Bernard Jin Kim bought 16,000 shares of the company's stock in a transaction that occurred on Thursday, August 4th. The stock was acquired at an average price of $63.58 per share, for a total transaction of $1,017,280.00. Following the transaction, the chief executive officer now directly owns 16,000 shares of the company's stock, valued at approximately $1,017,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Match Group
A number of hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its holdings in Match Group by 3.2% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 336,191 shares of the technology company's stock worth $23,429,000 after acquiring an additional 10,472 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in Match Group during the 2nd quarter worth about $327,000. Wrapmanager Inc. grew its holdings in Match Group by 29.7% during the 2nd quarter. Wrapmanager Inc. now owns 6,504 shares of the technology company's stock worth $453,000 after acquiring an additional 1,489 shares during the last quarter. M&T Bank Corp grew its holdings in Match Group by 3.8% during the 2nd quarter. M&T Bank Corp now owns 34,539 shares of the technology company's stock worth $2,359,000 after acquiring an additional 1,251 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its holdings in Match Group by 102.4% during the 2nd quarter. Pinebridge Investments L.P. now owns 678 shares of the technology company's stock worth $47,000 after acquiring an additional 343 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company's stock.
About Match Group
Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.
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