Royal Bank of Canada Reiterates Outperform Rating for Match Group (NASDAQ:MTCH)

Match Group (NASDAQ:MTCH)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They currently have a $35.00 target price on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 5.90% from the company’s current price.

Other research analysts have also issued reports about the company. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Morgan Stanley cut 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 report on Tuesday, November 12th. KeyCorp decreased their price objective on shares of Match Group from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Susquehanna cut their price objective on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. Finally, Wells Fargo & Company decreased 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 research report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.73.

Match Group Price Performance

NASDAQ MTCH opened at $33.05 on Monday. The company has a market cap of $8.30 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.91 and a beta of 1.47. The stock’s fifty day moving average price is $34.81 and its 200 day moving average price is $34.13. Match Group has a 1 year low of $27.66 and a 1 year high of $42.42.

Insider Activity

In other Match Group news, Director Stephen Bailey sold 801 shares of the stock in a transaction 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 transaction, the director now directly owns 12,398 shares of the company’s stock, valued at $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 is accessible through this hyperlink. Company insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. State Street Corp boosted its holdings in Match Group by 2.3% in the 3rd quarter. State Street Corp now owns 17,672,611 shares of the technology company’s stock worth $668,732,000 after buying an additional 391,977 shares during the last quarter. Starboard Value LP acquired a new stake in shares of Match Group in the third quarter worth approximately $361,605,000. Pacer Advisors Inc. increased its position in shares of Match Group by 88.5% during the second quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock worth $190,279,000 after purchasing an additional 2,940,667 shares in the last quarter. FMR LLC raised its stake in Match Group by 10.4% in the 3rd quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock valued at $209,668,000 after purchasing an additional 524,144 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Match Group in the 2nd quarter valued at $100,848,000. Institutional investors and hedge funds 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.