Match Group (NASDAQ:MTCH) Sets New 52-Week Low at $27.66

Match Group, Inc. (NASDAQ:MTCH - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The stock traded as low as $27.66 and last traded at $29.06, with a volume of 9430821 shares traded. The stock had previously closed at $31.51.

Wall Street Analyst Weigh In

MTCH has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of Match Group from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, February 1st. Raymond James initiated coverage on Match Group in a research note on Thursday, April 4th. They set a "market perform" rating for the company. Morgan Stanley downgraded Match Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $53.00 to $37.00 in a research note on Thursday, April 18th. UBS Group boosted their price target on Match Group from $35.00 to $38.00 and gave the company a "neutral" rating in a report on Friday, January 26th. Finally, KeyCorp dropped their price objective on shares of Match Group from $50.00 to $46.00 and set an "overweight" rating on the stock in a research note on Monday. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $42.82.

Match Group Price Performance

The business has a fifty day simple moving average of $33.77 and a 200 day simple moving average of $34.34. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.51 and a beta of 1.43.

Match Group (NASDAQ:MTCH - Get Free Report) last issued its earnings results on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.04. The business had revenue of $860.00 million during the quarter, compared to analysts' expectations of $855.77 million. Match Group had a net margin of 19.36% and a negative return on equity of 313.95%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. On average, research analysts anticipate that Match Group, Inc. will post 2.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MTCH. Boston Partners purchased a new position in Match Group during the third quarter worth approximately $276,406,000. Norges Bank acquired a new position in shares of Match Group during the 4th quarter valued at about $112,903,000. Bank of Nova Scotia grew its holdings in shares of Match Group by 17,295.4% in the fourth quarter. Bank of Nova Scotia now owns 2,155,632 shares of the technology company's stock valued at $78,678,000 after purchasing an additional 2,143,240 shares during the period. Wellington Management Group LLP increased its position in Match Group by 34.7% during the third quarter. Wellington Management Group LLP now owns 8,275,015 shares of the technology company's stock worth $324,174,000 after purchasing an additional 2,130,646 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new position in Match Group during the fourth quarter worth about $47,613,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.