Match Group (NASDAQ:MTCH) Price Target Raised to $36.00 at Bank of America

Match Group (NASDAQ:MTCH) had its price target boosted by Bank of America from $35.00 to $36.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

MTCH has been the subject of a number of other research reports. Truist Financial lowered their price target on Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Susquehanna reduced their price objective on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. KeyCorp dropped their target price on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Wells Fargo & Company cut their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, StockNews.com cut shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.06.

Match Group Trading Up 2.8 %

NASDAQ MTCH opened at $31.45 on Thursday. The stock has a market cap of $7.90 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.18 and a beta of 1.47. Match Group has a 12-month low of $27.66 and a 12-month high of $42.42. The company has a fifty day simple moving average of $34.35 and a two-hundred day simple moving average of $34.16.

Match Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, January 6th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, January 6th. This represents a $0.76 dividend on an annualized basis and a yield of 2.42%.

Match Group announced that its board has approved a share buyback plan on Wednesday, December 11th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the technology company to repurchase up to 19% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Match Group

In related news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the sale, the director now owns 12,398 shares of the company’s stock, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Match Group

A number of large investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its stake in shares of Match Group by 617.3% during the third quarter. Venturi Wealth Management LLC now owns 703 shares of the technology company’s stock worth $27,000 after purchasing an additional 605 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in Match Group in the 3rd quarter worth about $31,000. Quarry LP boosted its holdings in Match Group by 54.5% in the 2nd quarter. Quarry LP now owns 1,307 shares of the technology company’s stock worth $40,000 after buying an additional 461 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in Match Group during the 3rd quarter worth approximately $57,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Match Group by 433.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,846 shares of the technology company’s stock valued at $70,000 after acquiring an additional 1,500 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.