Morgan Stanley Has Lowered Expectations for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH) had its price target reduced by equities research analysts at Morgan Stanley from $33.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price would suggest a potential upside of 10.36% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Barclays decreased their price target on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. HSBC downgraded Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Stifel Nicolaus cut their price objective on shares of Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $33.00 price objective (down from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Finally, Hsbc Global Res cut Match Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.58.

Match Group Stock Performance

MTCH traded up $0.35 during trading on Thursday, reaching $29.00. The stock had a trading volume of 929,830 shares, compared to its average volume of 5,037,910. Match Group has a one year low of $26.39 and a one year high of $38.84. The business has a 50-day moving average of $31.27 and a 200-day moving average of $33.07. The stock has a market cap of $7.26 billion, a PE ratio of 14.36, a PEG ratio of 0.82 and a beta of 1.49.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Equities research analysts forecast that Match Group will post 2.44 EPS for the current fiscal year.

Insider Transactions at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the sale, the president now owns 1,690 shares of the company’s stock, valued at $55,533.40. The trade was a 99.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

Hedge funds have recently bought and sold shares of the company. Metis Global Partners LLC increased its position in Match Group by 3.0% during the fourth quarter. Metis Global Partners LLC now owns 10,956 shares of the technology company’s stock worth $358,000 after buying an additional 318 shares during the period. Cornerstone Investment Partners LLC increased its stake in Match Group by 2.2% in the fourth quarter. Cornerstone Investment Partners LLC now owns 15,889 shares of the technology company’s stock valued at $520,000 after purchasing an additional 349 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Match Group by 14.2% in the 4th quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock valued at $99,000 after purchasing an additional 378 shares during the last quarter. Fulton Bank N.A. grew its stake in Match Group by 3.9% during the first quarter. Fulton Bank N.A. now owns 10,290 shares of the technology company’s stock worth $321,000 after buying an additional 388 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its holdings in shares of Match Group by 1.8% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,149 shares of the technology company’s stock valued at $757,000 after buying an additional 415 shares during the period. Institutional investors and hedge funds 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.