Match Group (NASDAQ:MTCH) Given New $29.00 Price Target at JPMorgan Chase & Co.

Match Group (NASDAQ:MTCH) had its price target reduced by research analysts at JPMorgan Chase & Co. from $33.00 to $29.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 0.39% from the company’s current price.

A number of other analysts have also recently commented on the stock. Evercore ISI cut shares of Match Group from an “outperform” rating to an “inline” rating and set a $35.00 target price for the company. in a research note on Thursday, February 6th. Wells Fargo & Company cut their price objective on Match Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. Bank of America lowered their price target on Match Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday. BTIG Research downgraded Match Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 14th. Finally, Barclays lowered their target price on shares of Match Group from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $37.25.

Match Group Price Performance

NASDAQ MTCH traded up $0.04 during trading hours on Tuesday, reaching $29.12. The company’s stock had a trading volume of 324,123 shares, compared to its average volume of 4,923,939. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 0.82 and a beta of 1.49. The company’s 50-day moving average is $30.98 and its two-hundred day moving average is $32.83. Match Group has a 1-year low of $26.39 and a 1-year high of $38.84.

Match Group (NASDAQ:MTCH) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.62 earnings per share 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%. Equities analysts forecast that Match Group will post 2.44 EPS for the current fiscal year.

Insider Buying and Selling at Match Group

In related news, President Gary Swidler sold 242,209 shares of Match Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $32.86, for a total value of $7,958,987.74. Following the completion of the transaction, the president now owns 1,690 shares in the company, valued at approximately $55,533.40. The trade was a 99.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Match Group

Large investors have recently modified their holdings of the stock. NBC Securities Inc. purchased a new stake in Match Group during the 1st quarter worth about $37,000. Canada Post Corp Registered Pension Plan acquired a new stake in Match Group in the fourth quarter valued at approximately $43,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Match Group by 30,240.0% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,517 shares of the technology company’s stock worth $50,000 after acquiring an additional 1,512 shares during the last quarter. Assetmark Inc. lifted its stake in Match Group by 14.2% in the fourth quarter. Assetmark Inc. now owns 3,035 shares of the technology company’s stock worth $99,000 after acquiring an additional 378 shares during the last quarter. Finally, Principal Securities Inc. increased its position in shares of Match Group by 420.3% in the 4th quarter. Principal Securities Inc. now owns 3,283 shares of the technology company’s stock valued at $107,000 after purchasing an additional 2,652 shares during the last quarter. Hedge funds and other institutional investors 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.