Match Group (NASDAQ:MTCH) Stock Rating Lowered by Hsbc Global Res

Match Group (NASDAQ:MTCH) was downgraded by stock analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company decreased their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, December 12th. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective on shares of Match Group in a research note on Thursday, December 12th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $33.00 price objective (down previously from $40.00) on shares of Match Group in a report on Wednesday, December 18th. Loop Capital dropped their price target on Match Group from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Thursday, December 12th. Finally, Barclays reduced their price objective on Match Group from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday. Sixteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Match Group currently has an average rating of “Hold” and an average price target of $37.68.

Match Group Stock Down 2.3 %

NASDAQ:MTCH opened at $33.80 on Thursday. Match Group has a twelve month low of $27.66 and a twelve month high of $38.84. The stock has a market cap of $8.49 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 1.14 and a beta of 1.45. The firm’s fifty day simple moving average is $32.99 and its 200 day simple moving average is $34.66.

Match Group (NASDAQ:MTCH) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.22). Match Group had a negative return on equity of 574.22% and a net margin of 15.84%. On average, analysts expect that Match Group will post 2.49 EPS for the current fiscal year.

Match Group announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the technology company to reacquire up to 19% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Match Group

In other news, Director Stephen Bailey sold 801 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, the director now owns 12,398 shares of the company’s stock, valued at $391,900.78. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Marathon Trading Investment Management LLC purchased a new position in shares of Match Group in the fourth quarter worth $670,000. Daiwa Securities Group Inc. lifted its position in Match Group by 5.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 32,834 shares of the technology company’s stock worth $1,074,000 after buying an additional 1,589 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Match Group by 148.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 292,364 shares of the technology company’s stock worth $9,563,000 after purchasing an additional 174,530 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Match Group during the 4th quarter worth approximately $327,000. Finally, Banco Santander S.A. boosted its stake in shares of Match Group by 50.5% during the fourth quarter. Banco Santander S.A. now owns 26,521 shares of the technology company’s stock valued at $868,000 after purchasing an additional 8,901 shares during the period. 94.05% of the stock is owned by hedge funds and other 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.