Stifel Nicolaus Cuts Match Group (NASDAQ:MTCH) Price Target to $36.00

Match Group (NASDAQ:MTCH) had its price target reduced by Stifel Nicolaus from $39.00 to $36.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

MTCH has been the topic of a number of other reports. StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. UBS Group cut their price target on shares of Match Group from $43.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Morgan Stanley reduced their price target on shares of Match Group from $36.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 12th. Bank of America reiterated a “neutral” rating and set a $35.00 price target (down previously from $50.00) on shares of Match Group in a research report on Thursday, November 7th. Finally, KeyCorp dropped their price objective on Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.06.

Match Group Stock Performance

Shares of NASDAQ MTCH opened at $31.45 on Thursday. Match Group has a 52 week low of $27.66 and a 52 week high of $42.42. The business has a 50 day simple moving average of $34.35 and a 200 day simple moving average of $34.16. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.18 and a beta of 1.47.

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

Match Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Monday, January 6th.

Insider Activity

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

Institutional Trading of Match Group

Several institutional investors have recently added to or reduced their stakes in MTCH. Sumitomo Life Insurance Co. grew its position in Match Group by 2.9% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 10,647 shares of the technology company’s stock worth $403,000 after acquiring an additional 297 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of Match Group by 3.1% during the third quarter. Fulton Bank N.A. now owns 10,006 shares of the technology company’s stock valued at $379,000 after purchasing an additional 299 shares in the last quarter. Prestige Wealth Management Group LLC grew its holdings in shares of Match Group by 8.9% during the second quarter. Prestige Wealth Management Group LLC now owns 4,375 shares of the technology company’s stock worth $133,000 after purchasing an additional 357 shares during the last quarter. Empirical Finance LLC increased its stake in shares of Match Group by 1.5% in the third quarter. Empirical Finance LLC now owns 25,952 shares of the technology company’s stock valued at $982,000 after buying an additional 384 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Match Group by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 29,955 shares of the technology company’s stock valued at $1,133,000 after buying an additional 455 shares during the period. 94.05% of the stock is currently owned by institutional investors.

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.