Match Group (NASDAQ:MTCH) Shares Gap Down – Should You Sell?

Match Group, Inc. (NASDAQ:MTCH) shares gapped down before the market opened on Thursday . The stock had previously closed at $37.88, but opened at $32.09. Match Group shares last traded at $31.96, with a volume of 3,179,899 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. The Goldman Sachs Group upped their price target on shares of Match Group from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their price objective on shares of Match Group from $34.00 to $39.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price on shares of Match Group from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Finally, Truist Financial raised their price target on shares of Match Group from $33.00 to $37.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.19.

Match Group Stock Performance

The stock’s 50-day moving average is $36.95 and its two-hundred day moving average is $33.99. The stock has a market cap of $8.01 billion, a PE ratio of 13.72, a PEG ratio of 0.75 and a beta of 1.51.

Match Group (NASDAQ:MTCH) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. Match Group had a negative return on equity of 467.66% and a net margin of 18.72%. The business had revenue of $895.48 million during the quarter, compared to analyst estimates of $900.33 million. Analysts forecast that Match Group, Inc. will post 1.96 EPS for the current year.

Hedge Funds Weigh In On Match Group

A number of institutional investors and hedge funds have recently made changes to their positions in MTCH. Assenagon Asset Management S.A. purchased a new stake in shares of Match Group in the 2nd quarter valued at approximately $100,848,000. Pacer Advisors Inc. increased its holdings in Match Group by 88.5% in the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after buying an additional 2,940,667 shares during the last quarter. Marshall Wace LLP acquired a new stake in Match Group in the second quarter valued at $49,053,000. Capitolis Liquid Global Markets LLC raised its stake in Match Group by 668.9% in the first quarter. Capitolis Liquid Global Markets LLC now owns 1,304,000 shares of the technology company’s stock valued at $47,309,000 after buying an additional 1,134,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Match Group by 75.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock worth $69,018,000 after buying an additional 977,090 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Match Group Company Profile

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.