Match Group (NASDAQ:MTCH) Stock Rating Lowered by Hsbc Global Res

Match Group (NASDAQ:MTCH) was downgraded by Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on MTCH. Wells Fargo & Company dropped their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, December 12th. Morgan Stanley upped their price target on Match Group from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday. Bank of America boosted their price target on shares of Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Stifel Nicolaus dropped their price objective on shares of Match Group from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday. Finally, New Street Research cut shares of Match Group from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Match Group has an average rating of “Hold” and an average price target of $37.68.

Match Group Price Performance

Shares of NASDAQ MTCH opened at $33.80 on Thursday. Match Group has a 1 year low of $27.66 and a 1 year high of $38.84. The company has a market capitalization of $8.49 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.14 and a beta of 1.45. The company has a 50 day simple moving average of $32.99 and a 200-day simple moving average of $34.66.

Match Group (NASDAQ:MTCH) last posted its 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%. As a group, research analysts expect that Match Group will post 2.49 EPS for the current year.

Match Group announced that its board has approved a stock repurchase plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to reacquire up to 19% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is owned by company insiders.

Institutional Trading of Match Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Sanctuary Advisors LLC purchased a new stake in shares of Match Group during the second quarter worth approximately $731,000. Czech National Bank raised its position in Match Group by 3.8% during the 3rd quarter. Czech National Bank now owns 52,535 shares of the technology company’s stock worth $1,988,000 after buying an additional 1,909 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Match Group by 114.4% in the 3rd quarter. GAMMA Investing LLC now owns 5,391 shares of the technology company’s stock worth $204,000 after acquiring an additional 2,877 shares during the period. Atomi Financial Group Inc. purchased a new stake in shares of Match Group in the third quarter valued at about $292,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Match Group by 433.5% during the third 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 during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

About Match Group

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.