ValuEngine Downgrades Match Group (NASDAQ:MTCH) to Hold

Match Group (NASDAQ:MTCH) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

MTCH has been the topic of several other reports. Goldman Sachs Group raised shares of Match Group from a “sell” rating to a “neutral” rating and upped their price objective for the company from $48.00 to $66.00 in a report on Thursday, May 9th. Barclays upped their price objective on shares of Match Group from $56.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Zacks Investment Research raised shares of Match Group from a “hold” rating to a “strong-buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, May 15th. BMO Capital Markets downgraded shares of Match Group from an “outperform” rating to a “market perform” rating and set a $74.00 price objective on the stock. in a report on Friday, July 26th. Finally, SunTrust Banks upped their price objective on shares of Match Group to $62.00 and gave the company a “hold” rating in a report on Thursday, May 9th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.91.

Shares of MTCH stock traded down $0.25 during trading hours on Thursday, hitting $75.19. The company’s stock had a trading volume of 1,550,825 shares, compared to its average volume of 1,244,408. The stock has a 50 day simple moving average of $72.51. The stock has a market cap of $21.17 billion, a PE ratio of 56.53, a PEG ratio of 2.80 and a beta of 0.27. The company has a debt-to-equity ratio of 11.10, a quick ratio of 1.13 and a current ratio of 1.13. Match Group has a 12-month low of $33.30 and a 12-month high of $79.30.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.25 by $0.17. The business had revenue of $464.60 million for the quarter, compared to the consensus estimate of $463.69 million. Match Group had a net margin of 27.90% and a return on equity of 120.25%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. Research analysts expect that Match Group will post 1.78 EPS for the current year.

In related news, CEO Amanda Ginsberg sold 119,879 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $69.05, for a total transaction of $8,277,644.95. Following the sale, the chief executive officer now directly owns 211,784 shares of the company’s stock, valued at $14,623,685.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Philip D. Eigenmann sold 4,328 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $70.87, for a total transaction of $306,725.36. Following the sale, the insider now directly owns 10,506 shares in the company, valued at $744,560.22. The disclosure for this sale can be found here. Insiders have sold 130,607 shares of company stock worth $9,034,034 over the last three months. 3.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC boosted its holdings in Match Group by 4.7% during the second quarter. Flagship Harbor Advisors LLC now owns 4,910 shares of the technology company’s stock worth $330,000 after buying an additional 222 shares in the last quarter. Rhumbline Advisers boosted its holdings in Match Group by 0.7% during the first quarter. Rhumbline Advisers now owns 51,243 shares of the technology company’s stock worth $2,901,000 after buying an additional 355 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Match Group by 0.5% during the first quarter. California State Teachers Retirement System now owns 83,126 shares of the technology company’s stock worth $4,706,000 after buying an additional 377 shares in the last quarter. Cornerstone Advisors Inc. lifted its holdings in Match Group by 32.5% during the first quarter. Cornerstone Advisors Inc. now owns 1,774 shares of the technology company’s stock valued at $100,000 after purchasing an additional 435 shares in the last quarter. Finally, Bluestein R H & Co. lifted its holdings in Match Group by 6.7% during the first quarter. Bluestein R H & Co. now owns 8,000 shares of the technology company’s stock valued at $453,000 after purchasing an additional 500 shares in the last quarter. 22.07% of the stock is currently owned by hedge funds and other institutional investors.

Match Group Company Profile

Match Group, Inc provides dating products worldwide. It operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs, and Hinge, as well as other brands. Match Group, Inc offers its dating products through its applications and Websites in approximately 40 languages.

Read More: What is a good rate of return for a mutual fund?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Match Group (NASDAQ:MTCH)

Receive News & Ratings for Match Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Match Group and related companies with MarketBeat.com's FREE daily email newsletter.