Match Group (NASDAQ:MTCH) Shares Gap Down – Here’s What Happened

Match Group, Inc. (NASDAQ:MTCH) shares gapped down before the market opened on Thursday . The stock had previously closed at $37.88, but opened at $32.09. Match Group shares last traded at $31.96, with a volume of 3,179,899 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com downgraded Match Group from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their price target on shares of Match Group from $33.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. HSBC upgraded shares of Match Group from a “hold” rating to a “buy” rating and set a $43.20 price objective on the stock in a research note on Monday, August 5th. Wells Fargo & Company decreased their target price 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, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $38.00 price objective on shares of Match Group in a research note on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.19.

Match Group Price Performance

The company has a market capitalization of $8.01 billion, a PE ratio of 13.72, a P/E/G ratio of 0.75 and a beta of 1.51. The stock has a 50-day simple moving average of $36.95 and a 200 day simple moving average of $33.99.

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

Institutional Trading of Match Group

Large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. purchased a new position in Match Group in the 2nd quarter valued at about $100,848,000. Pacer Advisors Inc. lifted its stake in shares of Match Group by 88.5% during the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after buying an additional 2,940,667 shares during the period. Marshall Wace LLP acquired a new stake in Match Group during the second quarter worth approximately $49,053,000. Capitolis Liquid Global Markets LLC grew its stake in Match Group by 668.9% in the 1st quarter. Capitolis Liquid Global Markets LLC now owns 1,304,000 shares of the technology company’s stock worth $47,309,000 after acquiring an additional 1,134,400 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Match Group by 75.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock valued at $69,018,000 after acquiring an additional 977,090 shares during 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.