Match Group (NASDAQ:MTCH) Price Target Cut to $31.00 by Analysts at Citigroup

Match Group (NASDAQ:MTCH - Get Free Report) had its price objective lowered by research analysts at Citigroup from $34.00 to $31.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. Citigroup's target price indicates a potential upside of 5.48% from the company's current price.

Several other research analysts have also recently weighed in on MTCH. Evercore ISI cut Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target for the company. in a research report on Thursday, February 6th. Stifel Nicolaus reduced their price target on Match Group from $35.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. BTIG Research cut Match Group from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 14th. Wells Fargo & Company reduced their price target on Match Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, Hsbc Global Res cut Match Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Fifteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $36.44.

Match Group Stock Down 1.1 %

Shares of NASDAQ:MTCH traded down $0.34 during trading on Friday, hitting $29.39. The stock had a trading volume of 1,080,176 shares, compared to its average volume of 4,923,322. Match Group has a 12-month low of $26.39 and a 12-month high of $38.84. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 0.82 and a beta of 1.49. The stock has a 50-day simple moving average of $30.43 and a two-hundred day simple moving average of $32.55.

Match Group (NASDAQ:MTCH - Get Free Report) last announced its quarterly earnings data 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, sell-side analysts forecast that Match Group will post 2.44 earnings per share for the current year.

Insider Buying and Selling at Match Group

In other Match Group news, President Gary Swidler sold 242,209 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the sale, the president now directly owns 1,690 shares in the company, valued at $55,533.40. This represents a 99.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Match Group

A number of hedge funds have recently modified their holdings of the business. NBC Securities Inc. acquired a new position in shares of Match Group in the first quarter valued at approximately $37,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of Match Group in the fourth quarter valued at approximately $43,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company's stock valued at $50,000 after purchasing an additional 1,512 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Match Group by 130.1% in the first quarter. Mather Group LLC. now owns 2,536 shares of the technology company's stock valued at $79,000 after purchasing an additional 1,434 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company's stock valued at $99,000 after purchasing an additional 378 shares in the last quarter. 94.05% of the stock is currently 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.