UBS Group Cuts Match Group (NASDAQ:MTCH) Price Target to $34.00

Match Group (NASDAQ:MTCH) had its price target decreased by UBS Group from $38.00 to $34.00 in a research note released on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Match Group from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday. Wells Fargo & Company decreased their price target on Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday. Bank of America raised their price objective on Match Group from $35.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday. Susquehanna decreased their target price on Match Group from $45.00 to $40.00 and set a “positive” rating for the company in a research report on Friday, November 8th. Finally, KeyCorp lowered their price target on Match Group from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.06.

Match Group Stock Performance

Shares of MTCH opened at $31.45 on Thursday. The firm’s 50 day moving average price is $34.35 and its 200 day moving average price is $34.16. Match Group has a twelve month low of $27.66 and a twelve month high of $42.42. The firm has a market cap of $7.90 billion, a PE ratio of 14.04, a PEG ratio of 1.18 and a beta of 1.47.

Match Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 19% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Match Group Dividend Announcement

The company also recently announced 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 of this dividend is Monday, January 6th.

Insider Activity 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 shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.77% of the company’s stock.

Institutional Trading of Match Group

Several hedge funds have recently modified their holdings of MTCH. Wealth Enhancement Advisory Services LLC bought a new position in Match Group in the 2nd quarter valued at $220,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Match Group by 3.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 577,885 shares of the technology company’s stock valued at $17,556,000 after acquiring an additional 17,540 shares during the last quarter. Penn Davis Mcfarland Inc. increased its position in Match Group by 1.0% in the second quarter. Penn Davis Mcfarland Inc. now owns 470,391 shares of the technology company’s stock worth $14,290,000 after purchasing an additional 4,638 shares during the period. First Horizon Advisors Inc. raised its holdings in Match Group by 7.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 8,841 shares of the technology company’s stock worth $269,000 after purchasing an additional 598 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its position in Match Group by 8.1% during the 2nd quarter. Pallas Capital Advisors LLC now owns 13,476 shares of the technology company’s stock valued at $409,000 after purchasing an additional 1,010 shares during the period. 94.05% of the stock is owned by institutional investors.

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.