Match Group (NASDAQ:MTCH) Price Target Raised to $36.00

Match Group (NASDAQ:MTCH) had its target price boosted by Bank of America from $35.00 to $36.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other research firms have also recently commented on MTCH. Wells Fargo & Company dropped their price target on shares of Match Group from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday. StockNews.com lowered Match Group from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Morgan Stanley reduced their price target on Match Group from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday. Truist Financial dropped their price objective on Match Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, November 8th. Finally, Barclays reduced their target price 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. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Match Group presently has an average rating of “Moderate Buy” and a consensus target price of $39.06.

Match Group Stock Up 2.8 %

Shares of 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 company has a market cap of $7.90 billion, a PE ratio of 14.04, a P/E/G ratio of 1.18 and a beta of 1.47. The business has a fifty day moving average of $34.35 and a 200 day moving average of $34.16.

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

Match Group Announces Dividend

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

Insider Activity

In other Match Group news, Director Stephen Bailey sold 801 shares of Match Group stock in a transaction dated Friday, November 22nd. The stock was 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 $391,900.78. The trade was a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Match Group

A number of institutional investors have recently modified their holdings of the company. Starboard Value LP purchased a new stake in Match Group during the third quarter valued at 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. Marshall Wace LLP purchased a new stake in shares of Match Group during the 2nd quarter valued at $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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Match Group by 75.5% in the 2nd 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 in the last quarter. 94.05% of the stock is currently 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.