Match Group (NASDAQ:MTCH) Stock Bumped Down to Hold by Zacks Research

Key Points

• Zacks Research downgraded Match Group from “strong buy” to “hold,” aligning with the broader analyst consensus. Six analysts rate the stock a Buy and ten rate it a Hold, with a consensus price target of $42.46.
• Match Group reported quarterly EPS of $0.70, beating estimates of $0.65, while revenue of $853.11 million fell short of forecasts and declined 1.2% year over year.
• The stock opened at $40.62, near its 50-day moving average, with a market capitalization of $9.32 billion. Insiders sold about $976,000 worth of shares over the past 90 days, while institutional investors own 94.05% of the company.

Match Group (NASDAQ:MTCH - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

MTCH has been the subject of several other research reports. Morgan Stanley set a $40.00 price objective on shares of Match Group in a report on Wednesday, August 5th. Wall Street Zen cut shares of Match Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Susquehanna restated a "positive" rating on shares of Match Group in a research report on Wednesday, August 5th. Wells Fargo & Company boosted their price target on shares of Match Group from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Finally, Truist Financial upped their price target on shares of Match Group from $37.00 to $41.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Match Group has a consensus rating of "Hold" and a consensus target price of $42.46.

Match Group Price Performance

MTCH opened at $40.62 on Monday. The stock's 50 day moving average price is $40.54 and its 200 day moving average price is $37.32. The stock has a market cap of $9.32 billion, a P/E ratio of 14.35, a P/E/G ratio of 0.59 and a beta of 1.43. Match Group has a 12 month low of $28.81 and a 12 month high of $44.94.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%.The company had revenue of $853.11 million during the quarter, compared to analyst estimates of $857.77 million. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm's quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts anticipate that Match Group will post 3.31 EPS for the current year.

Insider Transactions at Match Group

In related news, Director Ann Mcdaniel sold 3,531 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $42.43, for a total transaction of $149,820.33. Following the completion of the transaction, the director owned 26,839 shares of the company's stock, valued at $1,138,778.77. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Philip Eigenmann sold 15,000 shares of Match Group stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $41.70, for a total value of $625,500.00. Following the transaction, the chief accounting officer directly owned 19,389 shares in the company, valued at approximately $808,521.30. The trade was a 43.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 23,291 shares of company stock worth $976,478. Corporate insiders own 0.71% of the company's stock.

Hedge Funds Weigh In On Match Group

Several hedge funds have recently made changes to their positions in the business. Whittier Trust Co. boosted its holdings in Match Group by 91.3% during the first quarter. Whittier Trust Co. now owns 903 shares of the technology company's stock worth $29,000 after buying an additional 431 shares in the last quarter. Eastern Bank bought a new position in shares of Match Group in the third quarter valued at $31,000. Elevation Wealth Partners LLC lifted its position in shares of Match Group by 1,319.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 951 shares of the technology company's stock valued at $36,000 after acquiring an additional 884 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Match Group during the 2nd quarter valued at $76,000. Finally, Parallel Advisors LLC boosted its stake in shares of Match Group by 31.4% during the 1st quarter. Parallel Advisors LLC now owns 3,385 shares of the technology company's stock worth $104,000 after acquiring an additional 808 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

About Match Group

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating platforms designed to help users form romantic, social and relationship-oriented connections across a range of demographics, interests and relationship goals.

Its brands include Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, OurTime, BLK, Chispa and The League. These services are available through mobile applications and websites and generally offer features such as user profiles, matching, messaging, discovery tools and subscription or other paid enhancements.

Match Group traces its origins to Match.com and was established as a standalone public company after being spun off from IAC in 2020.

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