Match Group (NASDAQ:MTCH) Receives Neutral Rating from Bank of America

Match Group (NASDAQ:MTCH)‘s stock had its “neutral” rating reissued by equities researchers at Bank of America in a research report issued to clients and investors on Thursday, MarketBeat.com reports.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Match Group from $33.00 to $47.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. HSBC raised Match Group from a “hold” rating to a “buy” rating and set a $43.20 target price for the company in a research report on Monday, August 5th. Citigroup increased their price objective on Match Group from $33.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Finally, Wolfe Research began coverage on Match Group in a research report on Tuesday, July 16th. They set an “outperform” rating and a $36.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.58.

Match Group Price Performance

NASDAQ:MTCH traded down $6.33 during midday trading on Thursday, hitting $31.55. The company’s stock had a trading volume of 6,567,786 shares, compared to its average volume of 5,184,121. The firm has a market cap of $8.14 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.75 and a beta of 1.51. The firm’s 50 day moving average is $36.95 and its 200-day moving average is $33.99. Match Group has a fifty-two week low of $27.66 and a fifty-two week high of $42.42.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $895.48 million during the quarter, compared to analysts’ expectations of $900.33 million. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. As a group, analysts forecast that Match Group will post 1.96 EPS for the current year.

Institutional Trading of Match Group

A number of hedge funds and other institutional investors have recently modified their holdings of MTCH. Venturi Wealth Management LLC grew its position in shares of Match Group by 617.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after buying an additional 605 shares during the period. Quarry LP boosted its holdings in shares of Match Group by 54.5% in the second quarter. Quarry LP now owns 1,307 shares of the technology company’s stock valued at $40,000 after buying an additional 461 shares during the period. Sentry Investment Management LLC bought a new stake in Match Group in the 1st quarter valued at $57,000. Mather Group LLC. raised its stake in shares of Match Group by 87.6% in the 2nd quarter. Mather Group LLC. now owns 1,700 shares of the technology company’s stock valued at $52,000 after purchasing an additional 794 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Match Group by 433.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after acquiring an additional 1,500 shares in the last quarter. 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.