Match Group (NASDAQ:MTCH) Stock Price Down 3.2%

Match Group, Inc. (NASDAQ:MTCHGet Rating) fell 3.2% during trading on Friday . The stock traded as low as $70.54 and last traded at $70.54. 15,063 shares changed hands during trading, a decline of 99% from the average session volume of 2,346,861 shares. The stock had previously closed at $72.90.

Several research firms have recently commented on MTCH. The Goldman Sachs Group reduced their price target on Match Group from $138.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, June 9th. Loop Capital initiated coverage on Match Group in a research note on Monday, April 11th. They set a “buy” rating and a $140.00 target price for the company. StockNews.com upgraded Match Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 14th. Cowen reduced their price objective on Match Group from $150.00 to $134.00 in a research note on Thursday, April 28th. Finally, Cowen cut their price target on Match Group from $150.00 to $134.00 in a research note on Thursday, April 28th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Match Group presently has an average rating of “Buy” and an average price target of $131.35.

The company has a 50-day moving average price of $80.26 and a 200-day moving average price of $103.08. The firm has a market capitalization of $19.36 billion, a PE ratio of 77.29, a P/E/G ratio of 0.71 and a beta of 1.17.

Match Group (NASDAQ:MTCHGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Match Group had a negative return on equity of 220.83% and a net margin of 9.12%. The business had revenue of $798.63 million for the quarter, compared to the consensus estimate of $795.03 million. During the same period in the prior year, the business earned $0.57 earnings per share. The business’s revenue was up 19.6% on a year-over-year basis. On average, research analysts predict that Match Group, Inc. will post 2.65 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Match Group by 1.7% during the first quarter. Vanguard Group Inc. now owns 29,160,856 shares of the technology company’s stock worth $3,170,951,000 after buying an additional 500,418 shares during the period. BlackRock Inc. lifted its position in Match Group by 16.8% during the first quarter. BlackRock Inc. now owns 27,564,956 shares of the technology company’s stock worth $2,997,413,000 after buying an additional 3,955,469 shares during the period. Edgewood Management LLC lifted its position in Match Group by 1.3% during the first quarter. Edgewood Management LLC now owns 16,721,962 shares of the technology company’s stock worth $1,818,346,000 after buying an additional 216,992 shares during the period. State Street Corp lifted its position in Match Group by 0.5% during the first quarter. State Street Corp now owns 12,492,462 shares of the technology company’s stock worth $1,358,430,000 after buying an additional 58,027 shares during the period. Finally, Lone Pine Capital LLC lifted its position in Match Group by 14.1% during the fourth quarter. Lone Pine Capital LLC now owns 8,872,280 shares of the technology company’s stock worth $1,173,359,000 after buying an additional 1,098,413 shares during the period. Hedge funds and other institutional investors own 96.11% of the company’s stock.

About Match Group (NASDAQ:MTCH)

Match Group, Inc provides dating products worldwide. The company's portfolio of brands includes Tinder, Match, Meetic, OkCupid, Hinge, Pairs, PlentyOfFish, and OurTime, as well as a various other brands. The company was incorporated in 1986 and is based in Dallas, Texas.

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