Match Group (NASDAQ:MTCH) Price Target Raised to $32.00

Match Group (NASDAQ:MTCH) had its price objective increased by Morgan Stanley from $31.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price objective indicates a potential upside of 0.98% from the company’s current price.

A number of other analysts have also recently weighed in on MTCH. Jefferies Financial Group reiterated a “hold” rating and set a $32.00 price target (down from $40.00) on shares of Match Group in a research report on Tuesday, December 17th. Barclays dropped their price objective on Match Group from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Loop Capital reduced their price objective on shares of Match Group from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Thursday, December 12th. UBS Group lowered their target price on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Finally, Susquehanna dropped their price target 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. Fourteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.72.

Match Group Stock Performance

Match Group stock opened at $31.69 on Monday. The stock’s 50 day moving average price is $32.19 and its 200 day moving average price is $34.41. The firm has a market capitalization of $7.96 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.45. Match Group has a one year low of $27.66 and a one year high of $39.91.

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

Insider Transactions at Match Group

In other Match Group news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was 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 of the company’s stock, valued at approximately $391,900.78. The trade was a 6.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Match Group

Several institutional investors have recently modified their holdings of the business. Starboard Value LP acquired a new position in Match Group in the third quarter valued at approximately $361,605,000. Pacer Advisors Inc. lifted its stake in shares of Match Group by 88.5% in the 2nd quarter. Pacer Advisors Inc. now owns 6,263,311 shares of the technology company’s stock valued at $190,279,000 after purchasing an additional 2,940,667 shares during the period. Marshall Wace LLP bought a new position in shares of Match Group in the 2nd quarter worth $49,053,000. Retirement Systems of Alabama boosted its position in shares of Match Group by 2,732.1% in the 3rd quarter. Retirement Systems of Alabama now owns 1,659,718 shares of the technology company’s stock worth $62,804,000 after purchasing an additional 1,601,115 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Match Group by 75.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,271,787 shares of the technology company’s stock worth $69,018,000 after purchasing an additional 977,090 shares during the period. 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.