Match Group (NASDAQ:MTCH) Shares Gap Up to $32.02

Match Group, Inc. (NASDAQ:MTCH)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $32.02, but opened at $34.22. Match Group shares last traded at $34.50, with a volume of 1,826,620 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reduced their target price on Match Group from $43.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Citigroup reduced their target price on Match Group from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday. UBS Group reduced their target price on Match Group from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Morgan Stanley reduced their target price on Match Group from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Raymond James assumed coverage on Match Group in a research note on Thursday, April 4th. They issued a “market perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Match Group has a consensus rating of “Moderate Buy” and a consensus target price of $41.79.

Match Group Stock Performance

The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 0.54 and a beta of 1.49. The business has a fifty day moving average price of $30.67 and a 200 day moving average price of $33.62.

Match Group (NASDAQ:MTCH) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $860.00 million during the quarter, compared to the consensus estimate of $855.77 million. Match Group had a negative return on equity of 433.59% and a net margin of 19.03%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. On average, analysts expect that Match Group, Inc. will post 2.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MTCH. Massmutual Trust Co. FSB ADV increased its holdings in Match Group by 46.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,146 shares of the technology company’s stock valued at $42,000 after buying an additional 361 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Match Group by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,045,186 shares of the technology company’s stock valued at $37,961,000 after purchasing an additional 191,615 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Match Group by 432.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,341 shares of the technology company’s stock valued at $49,000 after purchasing an additional 1,089 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Match Group by 1.5% during the fourth quarter. IFM Investors Pty Ltd now owns 57,551 shares of the technology company’s stock valued at $2,101,000 after purchasing an additional 868 shares during the last quarter. Finally, Scharf Investments LLC bought a new position in shares of Match Group during the fourth quarter valued at approximately $31,526,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.