JPMorgan Chase & Co. Has Lowered Expectations for Match Group (NASDAQ:MTCH) Stock Price

Match Group (NASDAQ:MTCH - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $33.00 to $29.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the technology company's stock.

A number of other equities research analysts have also commented on MTCH. Evercore ISI lowered shares of Match Group from an "outperform" rating to an "inline" rating and set a $35.00 price target for the company. in a report on Thursday, February 6th. Bank of America cut their target price on Match Group from $36.00 to $33.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Stifel Nicolaus dropped their price objective on Match Group from $36.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 6th. Morgan Stanley decreased their target price on Match Group from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, Hsbc Global Res downgraded shares of Match Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Match Group has a consensus rating of "Hold" and an average target price of $36.58.

Match Group Stock Performance

NASDAQ:MTCH traded down $0.12 during mid-day trading on Tuesday, reaching $30.07. The stock had a trading volume of 2,734,914 shares, compared to its average volume of 4,945,981. The stock has a market capitalization of $7.53 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.82 and a beta of 1.49. Match Group has a one year low of $26.39 and a one year high of $38.84. The firm has a 50 day moving average price of $30.60 and a two-hundred day moving average price of $32.65.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its earnings results on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. Research analysts forecast that Match Group will post 2.44 earnings per share for the current year.

Match Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Thursday, April 3rd were issued a $0.19 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $0.76 annualized dividend and a yield of 2.53%. Match Group's payout ratio is 37.62%.

Insider Buying and Selling at Match Group

In other news, President Gary Swidler sold 242,209 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total transaction of $7,958,987.74. Following the completion of the transaction, the president now directly owns 1,690 shares of the company's stock, valued at $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.77% of the company's stock.

Institutional Investors Weigh In On Match Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in MTCH. Boyar Asset Management Inc. purchased a new position in shares of Match Group in the 3rd quarter worth $1,376,000. Franklin Resources Inc. lifted its holdings in Match Group by 9.0% in the third quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company's stock valued at $10,459,000 after acquiring an additional 22,887 shares during the period. Retirement Systems of Alabama boosted its position in Match Group by 2,732.1% in the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company's stock worth $62,804,000 after purchasing an additional 1,601,115 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Match Group during the 4th quarter valued at about $250,000. Finally, Nordea Investment Management AB lifted its stake in shares of Match Group by 56.8% in the 4th quarter. Nordea Investment Management AB now owns 2,390,194 shares of the technology company's stock worth $78,733,000 after purchasing an additional 866,026 shares during the period. Hedge funds and other institutional investors 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.