Evercore ISI Cuts Match Group (NASDAQ:MTCH) Price Target to $35.00

Match Group (NASDAQ:MTCH) had its price objective reduced by Evercore ISI from $37.00 to $35.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities analysts also recently commented on MTCH. Wells Fargo & Company decreased their price objective on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday. KeyCorp decreased their price target on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. StockNews.com lowered shares of Match Group from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Morgan Stanley decreased their target price on Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Loop Capital lowered their target price on Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a report on Thursday. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Match Group currently has a consensus rating of “Moderate Buy” and an average price target of $39.06.

Match Group Price Performance

NASDAQ MTCH opened at $31.45 on Friday. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth 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’s fifty day moving average price is $34.35 and its two-hundred day moving average price is $34.19.

Match Group declared that its board has authorized a stock repurchase program on Wednesday, December 11th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the technology company to repurchase up to 19% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Match Group Announces Dividend

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

Insider Buying and Selling at Match Group

In related news, Director Stephen Bailey sold 801 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total transaction of $25,319.61. Following the completion of the sale, the director now directly owns 12,398 shares in the company, valued at approximately $391,900.78. This trade represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Match Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama raised its holdings in shares of Match Group by 2,732.1% during the third quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after acquiring an additional 1,601,115 shares in the last quarter. Franklin Resources Inc. increased its position in Match Group by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 276,775 shares of the technology company’s stock worth $10,459,000 after purchasing an additional 22,887 shares during the last quarter. Boyar Asset Management Inc. purchased a new stake in shares of Match Group during the 3rd quarter worth about $1,376,000. TD Private Client Wealth LLC lifted its holdings in shares of Match Group by 131.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,515 shares of the technology company’s stock valued at $247,000 after buying an additional 3,705 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Match Group during the 3rd quarter valued at about $249,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.