Match Group (NASDAQ:MTCH) Stock Price Crosses Below Fifty Day Moving Average After Analyst Downgrade

Shares of Match Group Inc. (NASDAQ:MTCH – Get Free Report) crossed below its 50-day moving average during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $40.00 to $39.00. The stock has a 50-day moving average of $42.17 and traded as low as $41.96. Wells Fargo & Company currently has an equal weight rating on the stock. Match Group shares last traded at $42.06, with a volume of 4,544,627 shares traded.

Several other research analysts have also weighed in on MTCH. Wall Street Zen lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. started coverage on shares of Match Group in a research note on Monday, August 24th. They set a “neutral” rating and a $43.00 target price for the company. TD Cowen boosted their price target on shares of Match Group from $45.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley set a $40.00 price target on shares of Match Group in a research note on Wednesday, August 5th. Finally, Truist Financial increased their price objective on Match Group from $37.00 to $41.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.23.

View Our Latest Stock Report on MTCH

Insider Transactions at Match Group

In other news, Director Glenn Schiffman purchased 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of $36.63 per share, with a total value of $109,890.00. Following the purchase, the director owned 56,370 shares in the company, valued at $2,064,833.10. This represents a 5.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Bailey sold 4,760 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $42.26, for a total value of $201,157.60. Following the completion of the transaction, the director owned 11,742 shares in the company, valued at $496,216.92. This represents a 28.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 23,291 shares of company stock worth $976,478. 0.71% of the stock is owned by corporate insiders.

Institutional Trading of Match Group

Several large investors have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Match Group by 124.3% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 112,600 shares of the technology company’s stock worth $4,521,000 after buying an additional 62,400 shares during the last quarter. Choreo LLC lifted its position in shares of Match Group by 39.6% in the third quarter. Choreo LLC now owns 20,780 shares of the technology company’s stock worth $834,000 after buying an additional 5,898 shares during the last quarter. Interchange Capital Partners LLC lifted its position in shares of Match Group by 7.4% in the third quarter. Interchange Capital Partners LLC now owns 13,488 shares of the technology company’s stock worth $542,000 after buying an additional 929 shares during the last quarter. Childress Capital Advisors LLC boosted its stake in shares of Match Group by 37.7% during the 3rd quarter. Childress Capital Advisors LLC now owns 24,859 shares of the technology company’s stock worth $998,000 after acquiring an additional 6,806 shares in the last quarter. Finally, Motley Fool Asset Management LLC bought a new stake in shares of Match Group during the 3rd quarter worth about $291,000. 94.05% of the stock is owned by institutional investors.

Match Group Stock Performance

The company has a market cap of $9.65 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.68 and a beta of 1.43. The firm has a 50 day moving average price of $42.17 and a 200-day moving average price of $36.39.

Match Group (NASDAQ:MTCH – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Match Group had a negative return on equity of 324.82% and a net margin of 20.17%. The business had revenue of $853.11 million for the quarter, compared to the consensus estimate of $857.77 million. During the same period last year, the business earned $0.49 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Match Group Inc. will post 3.31 EPS for the current fiscal year.

Match Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Monday, October 5th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, October 5th. Match Group’s dividend payout ratio (DPR) is 28.27%.

About Match Group

(Get Free Report)

Match Group, Inc is a global provider of online dating and social discovery services. The company operates a portfolio of dating applications and websites designed to help people form relationships, including Tinder, Hinge, Match, Meetic, OkCupid, Plenty of Fish, BLK, Chispa and The League.

Its platforms serve users across a broad range of geographies and relationship preferences. Match Group generates revenue primarily through paid subscriptions, premium features, à la carte purchases and advertising.

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