Match Group (NASDAQ:MTCH) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Match Group (NASDAQ:MTCH) from a buy rating to a hold rating in a research report released on Friday.

A number of other equities analysts also recently issued reports on MTCH. Evercore ISI raised shares of Match Group to a “strong-buy” rating in a report on Thursday, August 1st. Morgan Stanley lowered their price target on shares of Match Group from $36.00 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday. Truist Financial lowered their price target on shares of Match Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Hsbc Global Res raised shares of Match Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, KeyCorp lowered their price target on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Match Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.73.

Match Group Stock Down 1.8 %

Shares of NASDAQ MTCH traded down $0.55 during trading on Friday, reaching $30.71. 3,737,644 shares of the company traded hands, compared to its average volume of 5,280,531. The stock has a market capitalization of $7.92 billion, a PE ratio of 13.71, a P/E/G ratio of 0.85 and a beta of 1.51. The firm has a 50 day simple moving average of $36.15 and a 200-day simple moving average of $33.94. Match Group has a 52-week low of $27.66 and a 52-week high of $42.42.

Hedge Funds Weigh In On Match Group

A number of large investors have recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC raised its holdings in Match Group by 17.2% in the third quarter. Prestige Wealth Management Group LLC now owns 5,128 shares of the technology company’s stock worth $194,000 after purchasing an additional 753 shares in the last quarter. M&T Bank Corp raised its holdings in Match Group by 13.2% in the third quarter. M&T Bank Corp now owns 21,551 shares of the technology company’s stock worth $816,000 after purchasing an additional 2,507 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Match Group by 1.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 74,284 shares of the technology company’s stock worth $2,811,000 after purchasing an additional 1,088 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Match Group in the third quarter worth about $2,134,000. Finally, Anson Funds Management LP increased its holdings in shares of Match Group by 27.2% during the third quarter. Anson Funds Management LP now owns 1,365,680 shares of the technology company’s stock valued at $51,677,000 after acquiring an additional 292,240 shares in the last quarter. 94.05% of the stock is currently owned by 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.