Match Group (NASDAQ:MTCH) Downgraded to “Inline” Rating by Evercore ISI

Match Group (NASDAQ:MTCH) was downgraded by Evercore ISI from an “outperform” rating to an “inline” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They presently have a $35.00 price target on the technology company’s stock. Evercore ISI’s price target would indicate a potential upside of 3.55% from the company’s current price.

A number of other equities analysts have also recently commented on MTCH. Morgan Stanley lifted their target price on shares of Match Group from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Bank of America lifted their target price on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Piper Sandler reiterated an “overweight” rating and issued a $40.00 target price on shares of Match Group in a research report on Thursday, December 12th. Finally, BTIG Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 14th. Fifteen analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Match Group presently has an average rating of “Hold” and an average price target of $37.68.

Match Group Stock Performance

Match Group stock opened at $33.80 on Thursday. The firm’s fifty day moving average price is $32.99 and its 200-day moving average price is $34.66. The stock has a market cap of $8.49 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 1.10 and a beta of 1.45. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $38.84.

Match Group (NASDAQ:MTCH) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 721.15% and a net margin of 17.86%. On average, analysts predict that Match Group will post 2.37 earnings per share for the current year.

Match Group announced that its board has approved a stock repurchase program on Wednesday, December 11th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the technology company to buy up to 19% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were 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. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Match Group

Several hedge funds have recently bought and sold shares of MTCH. Starboard Value LP bought a new stake in Match Group during the third quarter worth about $361,605,000. Retirement Systems of Alabama boosted its stake in Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after acquiring an additional 1,601,115 shares in the last quarter. Seizert Capital Partners LLC boosted its stake in Match Group by 468.6% during the fourth quarter. Seizert Capital Partners LLC now owns 1,481,967 shares of the technology company’s stock worth $48,475,000 after acquiring an additional 1,221,347 shares in the last quarter. KBC Group NV raised its holdings in Match Group by 3,325.7% in the fourth quarter. KBC Group NV now owns 1,122,906 shares of the technology company’s stock worth $36,730,000 after buying an additional 1,090,127 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in Match Group by 17.0% in the fourth quarter. Pacer Advisors Inc. now owns 6,475,636 shares of the technology company’s stock worth $211,818,000 after buying an additional 939,078 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

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.