Match Group (NASDAQ:MTCH) Price Target Cut to $34.00 by Analysts at Truist Financial

Match Group (NASDAQ:MTCH) had its price objective reduced by Truist Financial from $35.00 to $34.00 in a research report released on Thursday morning,Benzinga reports. They currently have a hold rating on the technology company’s stock.

MTCH has been the topic of a number of other research reports. Wells Fargo & Company dropped their price objective on Match Group from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday. Susquehanna dropped their target price on shares of Match Group from $45.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Morgan Stanley reduced their target price 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. UBS Group dropped their price target on Match Group from $38.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Bank of America raised their price objective on Match Group from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.27.

Match Group Price Performance

Match Group stock opened at $30.58 on Thursday. Match Group has a 12-month low of $27.66 and a 12-month high of $42.42. The stock has a market capitalization of $7.68 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.47. The firm has a 50 day simple moving average of $34.47 and a 200-day simple moving average of $34.11.

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

Match Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Monday, January 6th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Monday, January 6th.

Insider Buying and Selling

In other news, Director Stephen Bailey sold 801 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $31.61, for a total value of $25,319.61. Following the sale, the director now owns 12,398 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. 0.77% of the stock is owned by insiders.

Institutional Trading of Match Group

Several large investors have recently added to or reduced their stakes in MTCH. State Street Corp boosted its holdings in shares of 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 acquiring an additional 391,977 shares in the last quarter. Starboard Value LP bought a new position in shares of Match Group in the third quarter valued at about $361,605,000. Pacer Advisors Inc. increased its position in 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 acquiring an additional 2,940,667 shares in the last quarter. FMR LLC raised its stake in shares of Match Group by 10.4% in the third quarter. FMR LLC now owns 5,540,916 shares of the technology company’s stock worth $209,668,000 after acquiring an additional 524,144 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Match Group by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,545,805 shares of the technology company’s stock worth $77,342,000 after buying an additional 12,379 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

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.